The Trace management own the remaining 25% of the company, and Trace co-founder Olivier Laouchez will continue as Chairman and CEO of the company.
MTG will consolidate Trace in its accounts with effect from 1 July 2014 and report it within the Pay-TV Emerging Markets business segment.
Trace is a global youth media brand and pay-TV channel operator with distribution agreements in 160 countries worldwide, including all 55 countries in Africa.
For further information, please visit www.mtg.se or contact:
Investors & Analysts Tel: +46 (0) 73 699 2714 Email: email@example.com
Journalists Tel: +46 (0) 73 699 2709 Email: firstname.lastname@example.org
Modern Times Group (MTG) is an international entertainment 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 net sales of SEK 14.1 billion in 2013. 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 16.30 CET on 26 June 2014.