MTG has completed the sale of its Baltic broadcasting businesses to Providence Equity Partners for a total cash consideration of EUR 100 million (approximately SEK 960 million). The transaction is based on an Enterprise Value of EUR 115 million, the company confirmed today.

The sale will result in a preliminary net capital gain, realized in the Q4 results, of approximately SEK 580 million. All items related to the Baltic broadcasting businesses are reported as discontinued operations in MTG’s financial statements.

Key operations included in the sale are the largest TV-channel portfolio in all three Baltic countries with a combined 48.6% Commercial Share of Viewing (CSOV) as of Q4 2016 (target audience: 15-49), including: Estonia (TV3, TV3+, TV6), Latvia (TV3, TV3+, TV6, Kanals 2 and LNT) and Lithuania (TV3, TV6, TV8); leading subscription and advertising funded video streaming services; the only DTH platform service and the third largest pay-TV operator in the Baltic region, including leading Baltic premium pay-TV channels in sports and entertainment; nationwide commercial radio stations; digital assets and an online advertising consultancy operating across the Baltic region.