MTG signs agreement to acquire LNT free-TV group in LatviaMonday, 09 January 2012
Modern Times Group, MTG, today announced that it has signed an agreement to acquire 100 percent of AS Latvijas Neatkarīgā Televīzija (‘LNT’) in Latvia for an undisclosed cash consideration, according to a press release.
LNT is the second largest free-TV operator in Latvia, and broadcasts national channel LNT, Russian language channel TV5 and entertainment channel LMK.
AdvertisementThe closing of the transaction is subject to regulatory approval by the Latvian Competition Council.
LNT generated revenues of less than EUR 7 million, and an EBITDA loss for the first nine months of 2011. Launched in 1996 and headquartered in Riga, LNT broadcasts a broad range of locally produced and internationally acquired entertainment content, as well as news coverage and movies.
By Scancomark.se Team
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