MTG Buys Nordic Indie Group Nice Entertainment


STOCKHOLM: MTG Studios has signed an agreement to acquire a majority stake of 86.8 percent of Nice Entertainment Group for 84.4 million euros ($114 million).

Nice is the largest independent group of TV production companies in the Nordic region. Its companies have produced such successful formats as Partaj in Sweden, Let's Dance in Norway and the pan-Nordic The Grill Masters and Dinner Disasters. Morten Aass, the current CEO of Nice, will remain in the roll following the acquisition.

MTG will acquire 86.8 percent of the shares in Nice from funds managed by CapMan, the majority shareholders, as well as Nice founders and management. Upon closing of the transaction, which is expected to occur by the end of October, MTG Studios will assume operational control over Nice and its businesses and will consolidate Nice's financial results in its accounts.

Jørgen Madsen Lindemann, the president and CEO of MTG, commented: “This agreement is another step in Modern Times Group's strategy to develop MTG Studios into a major international player in content production and distribution. It will substantially broaden MTG Studios' content portfolio, as well as accelerate MTG Studios' digital content creation capabilities. Nice has a wide range of popular formats already on air, as well as an exciting pipeline of new formats. I look forward to welcoming this talented group into the MTG family.”

Patrick Svensk, MTG's executive VP of content and chairman of MTG Studios, commented: “Nice is a fantastic company and a perfect strategic fit with MTG Studios, with well-diversified TV-production and relationships with all of the major Scandinavian broadcasters, as well as a unique approach to integrating TV and event production. It will be business as usual for Nice, and it will continue as an independent content company serving all clients in the Nordic region.”