MTG Outlines Strategic Plans
The Modern Times Group (MTG), owners of direct-to-home (DTH) platforms in the Nordic and Baltic regions of Europe, has outlined a number of strategic objectives as it looks to consolidate its strong position in these markets. The company said it hoped to report group revenues of 20 billion Swedish kronor ($2.88 billion) in 2011 with more than 10 percent organic annual sales growth. The company also expects a stronger performance in Eastern Europe, where it expects its subsidiary Viasat Broadcasting’s central and eastern European operations to generate net sales of 5 billion Swedish kronor ($720.5 million) in 2011.
“We have now either delivered, or are well on track to deliver, the strategic objectives that we set three years ago,” Hans-Holger Albrecht, CEO of MTG, said. “It is therefore time for new objectives which demonstrate the significant growth potential in the group, and our expectation for healthy margin development and a continued substantial return on equity over the next five years.”
In a separate move, the operator announced a content deal to boost its DTH platform in Denmark. Its subsidiary Viasat has signed a deal with Danish commercial broadcaster TV2 Danmark to broadcast TV2 on Viasat’s DTH satellite platform from next month through the end of 2014. Under the agreement, MTG will be able to include TV2, TV2 Zulu, TV2 Charlie and TV2 Film in its broadband offering through Danish broadband network operator Dansk Bredband, from July 2007 until the end of 2014.