Jørgen Madsen Lindemann


MTG sells Trace stake at €40 million valuation

MTG has agreed to sell its 75% stake in youth broadcaster Trace in a deal that values 100% of the business at an enterprise value of €40 million (approximately SEK 392 million). MTG agreed to sell its majority stake in the media group to TPG Growth, a division of investment firm TPG that has more […]

MTG reports growth despite eSports losses

MTG reported 83% profit growth for continuing operations in Q3, despite wider losses for its eSports operations. The Nordic company reported higher profits and margins for Nordic entertainment, international entertainment and MTG Studios. Meanwhile, its digital arm MTGx recorded lower losses on a sequential and year on year basis, thanks to the contribution from Innogames […]

MTG completes deal for games firm Kongregate

Modern Times Group (MTG) has closed its US$55 million acquisition of US games publisher and developer Kongregate. MTG announced the deal a month ago and has now bought 100% of the San Francisco-based games company, which will be fully consolidated into MTG’s digital business MTGx from August 1. MTG has ben increasingly moving away from […]

Drama at the members’ club

Howard Stringer and Jeremy Fox tell TBI about Atrium, their new club for platforms that want to source their own high-end drama series. Howard Stringer is known, among other things, for running Sony, producing for CBS, and until recently, being a non-exec director of UK pubcaster the BBC. His new venture is a first-of-its-kind members […]

MTG ups stake in games firm

Modern Times Group has invested €82.6 million (US$90.2 million) to increase its shareholding in mobile and browser-based games company, InnoGames, from 21% to 51%. The agreement comes after MTG said in January that it would use the proceeds of the sale of its stake in Czech free-to-air broadcaster Prima to top-up its investment in InnoGames. […]

Record sales for MTG despite digital spend

MTG reported record sales and a 15% growth in operating income – despite making investments into content digital expansion – in its Q1 earnings report. In its interim report for the period January to March, MTG reported an 11% year-on-year increase in net sales to SEK4.228 billion (US$470 million). This represented organic growth of 8% […]

MTG makes €115m from Baltic nets sale

Modern Times Group is selling its operations in the Baltic states to Providence Equity Partners in a deal that values the free, pay TV and radio businesses at €115 million (US$124 million), or twelve times 2016 earnings before interest and tax. MTG said the sale was part of its plan to transform itself  from “a […]

Amazon Studios, MTG bosses to keynote MIPTV

Amazon Studios content chief Roy Price and MTG president and CEO Jørgen Madsen Lindemann are to deliver Media Mastermind keynotes at MIPTV next month. Both will address creating compelling content for audiences in a changing digital landscape. Along with Netflix, Amazon has led the disruption that subscription VOD has incurred on traditional broadcasting, while MTG […]

Nice names new CEO as Aass makes MTG switch

Nice Entertainment Group has hired a new CEO after incumbent Morten Aass was named at the head of the Scandinavian producer’s broadcaster cousin in Norway. Modern Times Group content exec Morten Mogensen (pictured left) will now lead Nice (below right), with Aass becoming CEO of Modern Times Group Norway. Nice sits within European broadcasting group […]

MTG moves into online gaming

Modern Times Group has moved into online gaming by buying a 35% stake in German online games developer and publisher, InnoGames. The deal, which values InnoGames at €260 million (US$287 million), will see MTG take the stake from Eight Roads Ventures, and the company’s founders with the option to buy a further 16% at the […]

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