TV 2 Sport was launched in April 2007 by MTG and TV 2 in Denmark, as a 50/50 joint venture company, and broadcasts the premium sports channel TV 2 Sport, TV 2 Sport HD, and the TV 2 Sport Premier League dedicated Barclays Premier League channel. It is operated on an independent basis from both MTG and TV 2 in Denmark, and offers a wide range of premium sports content, including football from Superligaen, Barclays Premier League, UEFA Champions League, and the UEFA World Cup qualifiers; American football from NFL; the Danish men’s and women’s Handball championships; ice hockey from the NHL and the Danish league; and a wide range of tennis, cycling and golf, as well as a range of other sports rights.
TV 2 Sport reported revenues of DKK 348 million for the full year 2011, with an operating profit (EBIT) of DKK 17 million.
Upon completion of the transaction, MTG will assume full operational control of TV 2 Sport, and consolidate its results in its accounts. MTG’s proportion of TV 2 Sport’s results is currently reported within the Viasat Broadcasting business area, as part of the Viasat Broadcasting central operations & eliminations line.
For further information, please visit www.mtg.se or contact:
Jørgen Madsen, President & Chief Executive OfficerTel: +46 (0) 8 562 000 50
Modern Times Group (MTG) is an international entertainment broadcasting group with operations that span four continents and include free-TV, pay-TV, radio and content production businesses. MTG’s Viasat Broadcasting operates free-TV and pay-TV channels, which are available on Viasat’s own satellite platforms and third party networks, and also distributes TV content over the internet. MTG is also the largest shareholder in CTC Media, which is Russia’s leading independent television broadcaster.
Modern Times Group is a growth company and generated record net sales of SEK 13.5 billion in 2011. MTG’s Class A and B shares are listed on Nasdaq OMX Stockholm’s Large Cap index under the symbols ‘MTGA’ and ‘MTGB’.
The information in this announcement is that which Modern Times Group MTG AB is required to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. It was released for publication at 08:00 CET on 8 October 2012.