MTG buys remaining TV 2 Sport shares after receiving approvals
Modern Times Group (MTG), the international entertainment broadcasting group, has completed the acquisition of the remaining 49% of the shares in the Danish joint venture company TV 2 Sport from TV 2 Denmark. The completion follows the receipt of regulatory approval from the Danish Competition and Consumer Authority.
The payment for the shares comprises an undisclosed cash consideration and the transfer of the exclusive Danish broadcasting rights to the European Handball Championships for 2016 and 2018 from MTG to TV 2 Denmark.
TV 2 Sport was launched in April 2007 by MTG and TV 2 Denmark as a joint venture company and has to date been operated independently of both MTG and TV 2 Denmark. The company broadcasts the TV 2 Sport and TV 2 Sport HD channels, as well as the TV 2 Sport Premier League channel in SD and HD. The channels have together offered a wide range of premium sports content including football from Superligaen, the Barclays (English) Premier League, UEFA Champions League, and the FIFA World Cup qualifiers; NFL American football; the Danish men’s and women’s Handball championships; ice hockey from the NHL and the Danish league; as well as coverage of tennis, cycling, golf and other sports events.
The channels are available, alongside the Viasat Golf channels (SD and HD), on the Viasat satellite pay-TV platform, as well as on third party cable, IPTV and terrestrial networks. The TV 2 Sport channels have a Danish TV household penetration of up to approximately 50%.
MTG will now assume full management and operational control of TV 2 Sport and fully consolidate the results of the business in its accounts with effect from 1 January 2013.
Jørgen Madsen, president and CEO of MTG, commented: “This acquisition reflects the success of the TV 2 Sport operation and further enhances our market leading SD and HD sports coverage. It is clear that our pay-TV sports channel and content offering, when also combined with the sports coverage on our free-TV channels including TV3+, is the most comprehensive in the market and is available to subscribers on multiple TV distribution platforms.”