MTG completes ESL Gaming sale

MTG, formerly part of Nordic Entertainment (NENT) Group, has completed the sale of ESL Gaming. The deal with Savvy Gaming Group was announced earlier this year, with ESL Gaming described by MTG as the world’s largest esports company. MTG said that the deal is expected to generate net proceeds of US$875 million, with at least […]

MTG exits esports with US$1.05bn sale of ESL Gaming

Modern Times Group (MTG), which refocused its business four years ago following the split with streaming and TV outfit Nordic Entertainment (NENT Group), is to exit the esports world with the sale of ESL Gaming to Savvy Gaming Group (SGG) for an enterprise value of US$1.05 billion. MTG owns 91.46% of ESL Gaming, billed as […]

United Group in talks to buy Bulgaria’s Nova Broadcasting Group

United Group, the Balkan telco and media company, in talks to acquire Bulgaria’s leading media company Nova Broadcasting Group. The announcement of talks were made by United Group owner BC Partners, with the private equity firm confirming that it was in the midst of discussions with Nova owner Advance Media Group. A potential deal comes […]

MTG merges esports brands ESL Gaming and DreamHack

Swedish Modern Times Group (MTG) has announced the merger of its esports brands ESL Gaming and DreamHack. ESL Gaming is the world’s largest esports brand while DreamHack is described by MTG as “the premier gaming lifestyle company”. MTG acquired the pair in 2015, and has announced their merger in order “to increase competitiveness, accelerate products […]

Modern Times Group names new CEO

Modern Times Group (MTG) has named its chief financial officer Maria Redin as president and CEO with immediate effect. The appointment follows the July resignation of Jorgen Madsen Lindemann, who will continue to act as an adviser to the company until the end of his notice period. MTG has meanwhile named Lars Torstensson as its […]

NENT Group hires Peter Nørrelund as it looks to expand streaming and sports portfolios

Nordic Entertainment Group (NENT Group) has announced the appointment of Peter Nørrelund as its EVP and head of expansion and sport. Reporting to CEO Anders Jensen, Nørrelund will be responsible for enhancing NENT’s growing sports rights portfolio while also expanding its Viaplay streaming service. The company’s sports rights portfolio includes the English Premier League, UEFA […]

MTG esports outfits strike exclusive streaming deal with Twitch

Modern Times Group (MTG)-owned esports outfits ESL and DreamHack have struck a three-year streaming agreement with leading esports streaming service Twitch that will seeesports tournaments organized by the pair live streamed exclusively on Twitch in 2021 and 2022. As part of the partnership, Twitch will become a centralised hub for streaming ESL and DreamHack competitions, […]

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 […]

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