MTG completes acquisition of Nice Entertainment Group
November 1 2013
Modern Times Group MTG AB (publ) (‘MTG’ or ‘the Group’), the international entertainment group, today announced that it has completed its acquisition of 86.8% of Nice Entertainment Group (‘Nice’), following the receipt of regulatory approval from the Swedish and Norwegian competition authorities.
MTG will consolidate Nice’s financial results in its accounts with effect from 1 November 2013. Nice generated revenues of EUR 121.1 million and EBITDA of EUR 8.1 million for the twelve months ended 30 June 2013.
MTG Studios is one of the world’s leading content originators, producers and distributors. It operates the Strix production companies in Scandinavia and the Netherlands; Paprika Latino in Eastern Europe and Costa Rica; DRG in the UK; Novemberfilm in Norway; and Redaktörerna in Sweden. MTG Studios has sold its own formats to producers and broadcasters in more than 80 countries.
