According to Swedish business paper Dagens Industri, the sale of the Baltic business of Swedish entertainment broadcasting company Modern Times Group (MTG) will go ahead soon.
The paper was told by two independent sources that MTG’s Baltic business was going to be sold not too far into the future. Swedbank analyst Stephen Ward, who spoke with the paper, speculated that the change of hands of the local MTG subsidiaries could exceed the €100 million, a speculative price that cropped up in media reports, possibly reaching €150 million.
According to unconfirmed information, MTG started to look for a new owner for its Baltic business last fall. The group reportedly wants to sell its media channels in the three Baltic countries as one package, and Swedish bank SEB has been authorized to look for a buyer.
MTG’s sales in the Baltic countries, the Czech Republic, and Bulgaria grew by 11.8 percent to 2.53 billion Swedish kronor (some €266 million) in 2015. The group’s profit in the television segment in the region increased by 44.7 percent to 288 million kronor (€30.3 million).
The Estonian business of MTG includes Viasat Eesti, TV channels TV3, TV6 and 3+, as well as radio channels Power Hit Radio and Star FM. MTG’s market share among 15 to 49-year-old viewers was 40.3 percent in 2015.
Editor: Editor: Dario Cavegn
Source: BNS, ERR