MTG


NENT Group becomes co-owner of eSuperliga

Streaming-oriented Nordic Entertainment Group (NENT Group) has become the co-owner of Danish FIFA esports competition eSuperliga.  As a part of the deal, NENT picked up the media rights to the tournament across the Denmark, Finland, Iceland, Norway and Sweden. eSuperliga claims to be the biggest FIFA tournament in Denmark, attracting “some of the largest audiences […]

MTG takes hit from write-downs and redundancy costs

Nordic digital media outfit MTG is to write-down SEK165 million (€39 million) of discontinued assets and will take a SEK190 million hit from additional write-downs and costs associated with a cost-cutting and redundancy programme initiated at the end of last year in its Q4 results. The SEK165 million relates to the sale of Zoomin to […]

MTG sells Gen Z video outfit Zoomin

Modern Times Group has sold 100% ownership of Zoomin, its youth-oriented digital production outfit, to Azerion, a Dutch-based media and entertainment technology company. Zoomin turned in net sales of SEK50 million (€4.6 million) last year and EBITDA of negative SEK34 million. MTG said that as a result of the deal, it would post a net […]

MTG unveils plan for major new esports initiative

Modern Times Group (MTG) has unveiled plans for a major new esports tour, the ESL Pro Tour, as a joint initiative from ESL and DreamHack. MTG is pitching the event as the world’s largest Counter-strike: Global Offensive (CS:GO) circuit, which willlink over twenty CS:GO tournaments and leagues on five continents and feature an aggregate prize […]

Nordic Entertainment sees jump in Viaplay subscribers

Nordic Entertainment Group (NENT) has turned in its first quarterly report as an independent listed company with solid sales growth and a big jump in its Viaplay subscriber base. Viaplay subscribers were up 99,000 compared to the fourth quarter, and now represent 59% of Nordic Entertainment’s total base. Viaplay now has 1.357 million customers. Sales […]

MTG looks to invest in Kongregate founder’s new gaming venture

Modern Times Group (MTG)-owned gaming outfit Kongregate’s CEO and co-founder Emily Greer is leaving the company to pursue a new gaming venture with the potential backing of Kongregate’s parent company. MTG is in discussions to invest in her new company through its VC fund backing gaming startups. Greer co-founded Kongregate with her brother Jim in […]

MTG completes Nova sale

Modern Times Group (MTG) has completed the sale of its 95% majority stake in Nova Broadcasting Group in Bulgaria to local buyer Advance Media Group.   The all-cash transaction game Nova an enterprise value of €185 million. MTG said it will use the proceeds of the sale to further develop its global digital entertainment business […]

Nordic Entertainment names Viafree chief

Nordic Entertainment Group (NENT Group), formerly the broadcasting and streaming part of Modern Times Group, which began trading as a separate company last week, has appointed Cecilia Gave as SVP and group head of Viafree, its pan-Nordic advertising funded streaming service. Gave will join the group executive management team and will report to NENT Group […]

MTG’s sale of Nova Group gets regulatory approval

MTG’s sale of its 95% shareholding in Bulgaria’s Nova Broadcasting Group to Advance Media Group has received regulatory approval and is expected to close in April 2019. The deal values Nova at €185 million (SEK 1,917 million) and will produce a net capital gain of approximately SEK 1,300 million. MTG said it will use the sale […]

MTG sells Bulgaria’s Nova Group at €185m valuation

MTG has agreed to sell its 95% shareholding in Bulgaria’s Nova Broadcasting Group to Advance Media Group in a deal that values the full business at €185 million (SEK 1,917 million). MTG said it would use the proceeds of the deal to develop its digital entertainment verticals via organic investment in mergers and acquisitions, with […]

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