MTG takes complete control of Danish sports group
Editor | 08-10-2012
International entertainment broadcaster Modern Times Group (MTG) has acquired all of the remaining shares in the Danish 50/50 joint venture company TV 2 Sport A/S (ĎTV 2 Sportí) from TV 2 DANMARK A/S.
The full financial terms of the deal have not been disclosed but payment will comprise a cash consideration and the transfer of the exclusive Danish broadcasting rights to the hiugleuy popul;ar European Handball Championships for 2016 and 2018, which are currently held by the Group. The transaction is subject to regulatory approval by DanishCompetition Authorities.
Upon completion of the acquisition, MTG will assume full operational control of TV 2 Sport, and consolidate its results in its accounts. MTGís proportion of TV 2 Sportís results is currently reported within the Viasat Broadcasting business area, as part of the Viasat Broadcasting central operations & eliminations line. For 2011, TV 2 Sport reported revenues of DKK 348 million 11, with an operating profit (EBIT) of DKK 17 million.
TV 2 Sport was launched in April 2007 by MTG and TV 2 in Denmark, as a 50/50 joint venture company, and broadcasts the premium sports channel TV 2 Sport, TV 2 Sport HD, and the TV 2 Sport Premier League dedicated Barclays Premier League football channel.
It is operated on an independent basis from both MTG and TV 2 in Denmark, and offers a wide range of premium sports content, including football from Superligaen, Barclays Premier League, UEFA Champions League, and the UEFA World Cup qualifiers; American football from NFL; the Danish menís and womenís Handball championships; ice hockey from the NHL and the Danish league; and a wide range of tennis, cycling and golf, as well as a range of other sports rights.