MTG completes acquisition of LNT free-TV group in Latvia

June 1 2012

Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’), the international entertainment broadcasting group, today announced that it has completed the acquisition of 100% of AS Latvijas Neatkarīgā Televīzija (‘LNT’) in Latvia for an undisclosed cash consideration, following the receipt of the necessary approval from the Latvian Competition Council.

The Group will now assume management control of the LNT business, and will consolidate the operations’ results from today. The results for LNT will be reported as part of the Group’s Baltic free-TV operations, which are included in the ‘Baltics, Czech Republic and Bulgaria’ line of MTG’s quarterly financial reporting matrix.

LNT is the second largest free-TV operator in Latvia, and broadcasts national channel LNT, Russian language channel TV5 and entertainment channel Kanals 2.

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