March 23, 2018 / 6:29 AM / a year ago

MTG to split in two, distribute Nordic TV business to shareholders

STOCKHOLM, March 23 (Reuters) - Swedish media group MTG said on Friday it would split the company in two by distributing all the shares in its Nordic TV business, Nordic Entertainment Group, to MTG’s shareholders, and list them on the Nasdaq Stockholm exchange.

A planned $2.5 billion takeover of MTG’s Nordic TV business was dropped by Danish telecoms company TDC last month after a takeover offer for TDC by a financial consortium.

MTG will, after the split, include the firm’s current e-sports business, online gaming and digital video content operations, as well as other minority holdings.

“MTG will be the only publicly traded, pure play esports, online gaming and digital video content company in the western hemisphere,” MTG’s Chief Executive Jorgen Madsen Lindemann said in a statement. The firm said Nordic Entertainment Group will include MTG Nordic Entertainment, MTG Studios and Splay Networks. (Reporting by Helena Soderpalm; editing by Johannes Hellstrom)

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