Restructuring of publishing division

October 23 2002

RESTRUCTURING OF PUBLISHING DIVISION

Modern Times Group MTG AB, the international media group, today
announced that it is restructuring its publishing business area by
closing down the monthly current affairs magazine Moderna Tider´ and
the monthly business magazine
Kapital´. The operations have been closed
down because they are not expected to reach profitability in the
foreseeable future. The reorganization reinforces MTG’s focus on Finans
Vision, which is Stockholm’s largest ‘pink’ daily business newspaper.

More than 100,000 copies of Finans Vision are distributed at the largest
commuter stations and to 560 companies in Sweden’s three largest cities
– Stockholm, Gothenburg and Malmo. The newspapers are distributed by
hand together with Metro, Sweden’s largest daily morning newspaper. The
cooperation with Metro is being extended in terms of both distribution
and advertising sales.

Hans-Holger Albrecht, President and CEO of MTG, commented: “Finans
Vision is now established as Stockholm’s leading daily business
newspaper. MTG is committed to the significant potential of this ground-
breaking newspaper, which is based on the successful Metro concept. We
are also committed to closing down operations that do not reach
profitability within the target timeframes that we set, and to
developing scalable rather than niche media products.

“Today’s decision reflects our intention to focus the division’s
resources on fully exploiting the potential of Finans Vision.”

For further information, please visit www.mtg.se, email info@mtg.se, or
contact:

Hans-Holger Albrecht, President & CEO tel: +46 (0) 8 562 000 50
Investor & Press Relations tel: +44 (0) 20 7321 5010

Modern Times Group, MTG AB has six business areas: Viasat Broadcasting
(Free-to-air and pay-TV channels in nine countries, and the new media
businesses – teletext operations and the Everyday interactive TV,
internet and mobile portals), Radio (local and national networks in five
countries), Publishing (financial news and information services), Modern
Interactive (home shopping, e-commerce and logistics), SDI Media
(subtitling and dubbing services), and Modern Studios (content
production and rights library).

Modern Times Group MTG AB’s class A and B shares are listed on the
Stockholmsbörsen O-list (symbols: MTGA and MTGB) and ADRs are listed on
the NASDAQ National Market (symbol: MTGNY).


This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2002/10/23/20021023BIT01450/wkr0001.doc
http://www.waymaker.net/bitonline/2002/10/23/20021023BIT01450/wkr0002.pdf

We use cookies to analyse our traffic and render this website more user friendly.
×