MTG


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 […]

MTG reports gains ahead of business split

Modern Times Group (MTG) reported full-year gains in sales, profits and margins in 2018 as it prepares to split into two companies – MTG and Nordic Entertainment Group (NENT Group) – in March. Announcing its full year and fourth quarter results, the company said that Nordic Entertainment maintained its strong performance, while MTGx – its […]

MTG eSports unit in move to create new Swedish tournament

Modern Times Group (MTG)-owned eSports outfit DreamHack has teamed up with the Swedish Elite Football Association to create eAllsvenskan, a FIFA 19 eSports tournament set to take place in the spring. The eAllsvenskan will kick off on March 2 as part of the EA Sports FIFA 19 Global Series and will be broadcast live by […]

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