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MTG takes full control of TV 2 Sport

International broadcast group Modern Times Group is acquiring all the remaining shares in the Danish joint venture broadcaster TV 2 Sport from TV 2 Denmark.

The deal will see the exclusive Danish broadcasting rights to the European Handball Championships for 2016 and 2018 revert to MTG’s ownership.

TV 2 Sport was launched in April 2007 by MTG and TV 2 in Denmark as joint-venture company. It operates premium sports channel TV 2 Sport, TV 2 Sport HD and the TV 2 Sport Premier League channel. It is operated independently from MTG and TV 2 in Denmark. The company reported revenues of DKK348 million (€47 million) for the full year 2011.

The transaction is subject to regulatory approval by Danish competition authorities. Upon completion, MTG will assume full operational control of TV 2 Sport, and consolidate its results in its accounts.

Tags: MTG