30/09/2013 - “Another step in the strategy to develop MTG Studios into a major international player in content production and distribution,” said president and ceo Jørgen Madsen Lindemann

Nordic international entertainment company, Modern Times Group MTG, has acquired a 86.8% majority stake of Nice Entertainment Group, the largest independent group of TV production companies in the Nordic region, for an enterprise value of €84.4 million.

In Scandinavia, Nice owns such production companies as Monster, One Big Happy Family, Playroom, and Rakett in Norway; Titan, Baluba and Nice Drama in Sweden; Moskito, Production House, and Grillifilms in Finland; and Gong in Denmark. Current CEO of Nice, Morten Aass, will remain chief after the sale.

“The agreement is another step in the strategy to develop MTG Studios into a major international player in content production and distribution,” explained MTG president and CEO Jørgen Madsen Lindemann (photo). “It will substantially broaden our content portfolio, as well as accelerate our digital content creation capabilities.”

MTG Studios is already one of the world’s leading producers and distributors of TV productions, digital content and print, operating branded companies Strix in Scandinavia and the Netherlands, Paprika Latino in Eastern Europe, Redaktörerna in Sweden, Novemberfilm in Norway, as well as the UK-based international distributor DRG. The company has sold formats to more than 80 countries.

According to Lindemann, Modern Times Group MTG expected to benefit from the acquisition by increasing its market shares and efficiency levels in the content production industry; the transaction is expected to be concluded by the end of October.