MTG & Econet Close Deal for African Channels


STOCKHOLM: Modern Times Group (MTG) has completed the sale of its free-TV broadcasting and production businesses in Ghana and Nigeria to Econet Media Group.

The two are also pending a deal for MTG’s free-TV broadcasting business in Tanzania, expected to close in the first quarter of 2017. The African free-TV and production businesses generated sales of SEK 21 million ($2.2 million) for the first 11 months of 2016, for which Ghana and Nigeria contributed SEK 18 million ($1.9 million).