Following the announcement of the process to initiate a split of MTG into two companies, MTG and Nordic Entertainment Group, MTG has appointed new leadership team members for the new MTG.
The new MTG (Modern Times Group MTG AB) will comprise MTG’s current esports (ESL, DreamHack and ESEA), online gaming (InnoGames and Kongregate) and digital video content (Zoomin.TV, Engage Digital Partners) operations, as well as other minority holdings (Comosa AG and BITKRAFT). MTG will be well funded and will focus on developing and expanding its portfolio of hyper growth global digital companies through a flexible buy and build strategy, which will be centred around key digital entertainment verticals.
The two new leadership appointments for the new MTG are:
As previously announced, Jørgen Madsen Lindemann will be President and CEO of the new MTG and Maria Redin will be CFO. Additional new leadership appointments will be announced in due course.
Jørgen Madsen Lindemann, MTG President and CEO: “Peter Nørrelund and Johan Levinsson have both played key roles in building MTG’s position as a leading global digital entertainer. Their experience and passion will be instrumental as we develop and expand our portfolio of hyper growth global companies in esports, online gaming and digital video content.”
About the split of MTG
On 23 March 2018 it was announced that the Board of Directors of MTG has decided to initiate a process to split MTG into two companies – Modern Times Group MTG AB and Nordic Entertainment Group – by distributing all the shares in Nordic Entertainment Group to MTG’s shareholders and listing these shares on Nasdaq Stockholm.
The Board intends to propose the distribution and listing of the shares at an Extraordinary General Meeting of its shareholders during the second half of 2018. The Board’s final proposal will be subject to the previously announced combination of MTG’s Nordic Entertainment and MTG Studios businesses with TDC Group not being completed.
More information about the split can be found here.
NOTES TO EDITORS
MTG (Modern Times Group MTG AB (publ)) is a leading international digital entertainment group and we are shaping the future of entertainment by connecting consumers with the content that they love in as many ways as possible. Our brands span TV, radio and next generation entertainment experiences in esports, digital video content and online gaming. Born in Sweden, our shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).