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MTG

MTG operating profits double

Swedish media giant Modern Times Group (MTG) has announced pre-tax profits of 440 million kronor for the first quarter, down from 575 million in the same period in 2005.

Published: 26 April 2006 09:30 CEST

Last year’s figures, however, included a net profit of 389 million kronor from the sale of financial assets. MTG’s operating profits, excluding the proceeds of the sale, rose from 212 million kronor in the first three months of 2005 to 453 million for the same period this year.

“These are MTG’s best ever first quarter results,” wrote CEO Hans-holder Albrecht in the company’s quarterly report. All the company’s core businesses have shown good growth and improved results, he said.

The group includes Viasat Broadcasting, which runs cable and satellite TV channels in the Nordic and Baltic regions, as well as radio and home shopping operations.

TT/The Local

MTG

Swedish broadcaster MTG quits Slovenia

Swedish broadcaster Modern Times Group, MTG, said Wednesday it will cancel its Slovenian television channel TV3 and quit the EU country citing the unfavourable media environment there.

Published: 5 January 2012 06:36 CET

“We’ve been forced to such a radical step by the situation in Slovenia’s media market determined by monopolies and a lack of competitiveness,” TV3’s head Gregor Memedovic said in a statement.

MTG entered Slovenia’s media market in 2006 and created TV3, which currently employs 39 people and has 11 percent of the country’s viewers.

“Despite that, TV3 could not win a proportional share (to the number of viewers) in the advertising market and has been registering large losses,” Memedovic said, adding there were no prospects of the situation improving over the next years.

In 2010, TV3 and state television RTV filed a complaint before the Competition Protection Authority against media house Pro Plus for allegedly forcing advertisers to sign exclusive contracts with its commercial television channels POP TV and Kanal A.

The competition authority opened an investigation in 2011 but has yet to make a ruling.

According to Pro Plus figures, POP TV and Kanal A together have a 60-70 percent market share in Slovenia.

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