March 23, 2018 / 6:09 AM / 6 months ago

BRIEF-MTG says to split in two, plans distribution of Nordic TV business to shareholders

March 23 (Reuters) - Mtg Ab:

* MTG TO SPLIT IN TWO AND DISTRIBUTE SHARES IN NORDIC ENTERTAINMENT GROUP TO SHAREHOLDERS

* SAYS ‍BOARD’S FINAL PROPOSAL WILL BE SUBJECT TO PREVIOUSLY ANNOUNCED COMBINATION OF MTG’S NORDIC ENTERTAINMENT AND MTG STUDIOS BUSINESSES WITH TDC GROUP NOT BEING COMPLETED​

* SAYS ‍INTENDS TO PROPOSE DISTRIBUTION AND LISTING OF SHARES AT AN EXTRAORDINARY GENERAL MEETING (EGM) OF ITS SHAREHOLDERS DURING SECOND HALF OF 2018​

* SAYS ‍MODERN TIMES GROUP MTG AB - WILL COMPRISE MTG’S CURRENT ESPORTS (ESL, DREAMHACK AND ESEA), ONLINE GAMING (INNOGAMES AND KONGREGATE) AND DIGITAL VIDEO CONTENT (ZOOMIN.TV, ENGAGE DIGITAL PARTNERS) OPERATIONS, AS WELL AS OTHER MINORITY HOLDINGS (COMOSA AG AND BITKRAFT)​

* SAYS ‍JØRGEN MADSEN LINDEMANN WILL CONTINUE AS MTG PRESIDENT AND CEO AND MARIA REDIN WILL CONTINUE AS MTG CFO​

* SAYS ‍NORDIC ENTERTAINMENT GROUP - WILL COMPRISE MTG’S CURRENT NORDIC ENTERTAINMENT AND MTG STUDIOS BUSINESS SEGMENTS, AS WELL AS SPLAY NETWORKS​

* SAYS ‍ANDERS JENSEN, CURRENTLY MTG EXECUTIVE VICE PRESIDENT; CEO OF NORDIC ENTERTAINMENT, WILL BE PRESIDENT AND CEO OF NORDIC ENTERTAINMENT GROUP​

* SAYS ‍NORDIC ENTERTAINMENT GROUP WILL HAVE AN APPROPRIATE CAPITAL STRUCTURE TO FUND ITS FURTHER EXPANSION AND SHAREHOLDER RETURNS​ Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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