Expand6/13/2013 8:00 AM
Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’), the international entertainment broadcasting group, today announced that it has completed the acquisition of 92.4% of Digital Rights Group Ltd (‘DRG’), which is the leading UK-based content distribution company, for an enterprise value of GBP 15 million, and completed the acquisition of 51% of Novemberfilm A/S (‘Novemberfilm’), which is a Norwegian production company, for an undisclosed cash consideration. The shares in DRG have been acquired from majority shareholder Ingenious Media Active Capital Ltd, as well as a number of private shareholders, with the remaining 7.6% of the shares to be held by the DRG CEO and management team. The shares in Novemberfilm have been acquired from the company’s current management, with the remaining 49% of the company continuing to be owned by members of the management team.