Modern Times Group Gets Controlling Stake in Danish Sports Channel TV2 Sport
By Community | October 8, 2012
Modern Times Group (MTG) has acquired shares in Danish sports channel TV2 Sport, asthma taking full control of the channel.
TV2 Sport was launched in April 2007 as a 50/50 joint-venture between MTG and TV2, stomach and consists of TV2 Sport, TV2 Sport HD and TV2 Sport Premier League, which is dedicated to coverage of English football.
MTG has now acquired the outstanding 50% of the business, with payment consisting of an undisclosed cash sum and the transfer of exclusive Danish broadcasting rights to the European Handball Championships in 2016 and 2018.
The deal is subject to approval from the Daanish competition regulator. TV2 Sport reported revenues of DKK348m (US$60.6m) for 2011, with an operating profit of DKK17m.