Zitius will be deconsolidated from MTG’s accounts from the beginning of June. The transaction is expected to generate approximately SEK 76 million of net gain. Zitius’ financial results for the period until deconsolidation, as well as the net gain, will be reported within the ‘Central Operations, eliminations & others’ line within the Viasat Broadcasting business area in the Group’s reporting matrix.
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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 08.00 CET on 21 May 2014.