MTG Offloads Ukrainian Business

STOCKHOLM: Modern Times Group (MTG) is selling off its Ukrainian pay-TV business to 1+1 Media Group as part of its “ongoing strategic portfolio review.”

The Viasat Ukraine business delivers packages of up to 110 channels on its DTH platform. It also provides an internet pay-TV platform to Kyivstar, Ukraine’s largest telco, offering up to 130 channels and VOD services.

Jørgen Madsen Lindemann, president and CEO of MTG, commented, “The sale of our Ukrainian operations is part of our ongoing strategic portfolio review. The Ukrainian team have created popular TV entertainment platforms and products, and we wish them every success in the future.”

Financial terms of the deal, which is subject to regulatory approval, were not disclosed. 1+1 operates eight channels in Ukraine, including 1+1 and TET, a portfolio of websites and is active in content production.