MTG Ups Investment in Ukrainian Platform

STOCKHOLM: The Modern Times Group (MTG) is picking up an additional 35-percent stake in Viastrong Holding, which operates the Viasat Ukraine satellite-TV platform.

MTG, which already owns 50 percent of Viastrong, is picking up the additional interest from the Strong Media Group for an undisclosed consideration in cash. The transaction is expected to close during the second quarter of 2010. Viasat Ukraine launched in April 2008 as the first licensed digital premium DTH satellite operator in the country. Viasat’s Baltic and Ukrainian DTH satellite pay-TV platforms had 216,000 premium subscribers at the end of 2009.

Hans-Holger Albrecht, the president and CEO of MTG, commented: “Viasat Ukraine has made a promising start and is continuing to grow its premium subscriber base in the second most populated market in the region. The demand for our range of high quality local and international TV entertainment is clear, and we are committed to continuing to invest in the development of the platform in what is one of Europe’s most exciting pay-TV markets. Our successful partnership with Strong Media remains a key element in our plans to unlock and capitalize on the potential of this market, whilst the increase in shareholding further raises the upside for the Group from the ongoing investments that we are making. Coming hot on the heels of our acquisition of a 50-percent interest in the Raduga TV national satellite platform in Russia, the investment in the Ukrainian business again demonstrates our interest in emerging market pay-TV businesses."