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MTG Strengthens Russian Position

By | August 20, 2004

      Modern Times Group (MTG) has strengthened its position in Russia by increasing its stakes in DTV, a Russian Free-To-Air (FTA) channel and StoryFirst Communications, a U.S. entity that owns and operates CTC, Russia’s largest privately owned commercial TV network, as well as 13 regional stations.

      MTG acquired a further 1.9 percent stake in StoryFirst Communications, lifting its shareholding to 39.9 percent. In addition, MTG announced the acquisition of the remaining 25 percent stake that it did not only own of the Russian TV channel DTV.

      MTG is one of the leading media and pay-TV providers in Scandinavia through its subsidiary Viasat. MTG also is becoming a key player in the Baltic region in its expansion beyond Scandinavia.

      Hans-Holger Albrecht is delighted the operator has managed to strengthen its position still further in the region. He commented, “The Russian TV audience is the largest in Europe and the market continues to show great potential. Our expansion into Central and Eastern Europe began more than ten years ago and we now have free-to-air and/or pay-TV businesses in 11 countries in the region. DTV´s share of viewing in the core demographic group of 12 to 49 year olds has grown steadily since we first bought into DTV in 2001.”

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