MTG is carefully considering the impact of the proposed legislation on both its shareholding in CTC Media and other TV and broadcasting business interests in Russia. MTG is working both through its representation in the Board of CTC Media and independently to evaluate what actions may be taken in order to protect shareholders’ interests, in the event that the law is enacted in its current form.
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Modern Times Group (MTG) is an international entertainment group with operations that span six 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 15:30 CET on 29 September 2014.