MTG to Acquire Latvian Free-TV Group


STOCKHOLM: Modern Times Group (MTG) has signed an agreement to acquire Latvijas Neatkarīgā Televīzija (LNT), the second largest free-TV operator in Latvia.

LNT broadcasts national channel LNT, the Russian-language channel TV5 and entertainment channel LMK. This adds to MTG’s existing free-TV operations in Latvia, TV3, 3+ and TV6 channels. The closing of the transaction is subject to regulatory approval by the Latvian Competition Council.

Hans-Holger Albrecht, the president and CEO of MTG, commented: “MTG is a growth company and we consistently seek opportunities to build our existing market positions and establish new ones. LNT is such an opportunity and would be an excellent fit with our existing operations in Latvia and across the region. LNT’s channel portfolio complements our own offering, which we have developed over the past 14 years, and this transaction would enable us to provide viewers with an even greater variety and quality of Latvian and Russian language programming. With one of our two play-out facilities now located in Riga, we are committed to continuing to invest in Latvia and the Baltic region as the advertising markets stabilise and return to growth.”