MTG Enters Digital Alliance with Major Euro Media Companies

STOCKHOLM: Modern Times Group (MTG) has entered a digital-business alliance with various other European media companies, including Germany’s ProSiebenSat.1, the U.K.’s Channel 4 and France’s TF1.

The new partnerships were formed to identify investment opportunities in new digital businesses. The alliance also creates a pan-European footprint that enables its members to invest in consumer-focused digital startups, such as classifieds, social media, e-commerce and marketing companies that are looking to expand their geographical footprint. In return, the alliance members will provide the digital startups with certain volumes of advertising media.

The alliance will operate on a non-committal referral basis, whereby members will refer investment opportunities to each other, and decide independently on a case by case basis whether an investment will be made and at what level.

"MTG has always been at the forefront of digital development, and working together with ProSieben and others will further accelerate the strong growth we already have in this space," said Jørgen Madsen Lindemann, MTG’s president and CEO. "We have done several media for equity deals over the years and know that they can be a very effective way to both accelerate the growth of these businesses and create shareholder value for MTG."