STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’)(STO:MTGB) (STO:MTGA), the international entertainment broadcasting group, today announced that Marek Singer has been appointed as Executive Vice President of the Group’s Central European Broadcasting operations with effect from 1 January 2013. Mr. Singer will therefore join MTG’s senior management team and assume responsibility for the Group’s free-TV operations in Estonia, Latvia, Lithuania, the Czech Republic, Bulgaria and Hungary, as well as the Group’s pay-TV and radio operations in the Baltic countries.
Marek Singer has been CEO and a Board member of the TV Prima free-TV operations in the Czech Republic, of which the Group owns 50%, since 2008. The successor as CEO of the Czech operations has been selected and this appointment will be announced in due course. Marek will continue as a Board member of TV Prima.
Anders Nilsson, who has served as Executive Vice President of MTG’s Central European Broadcasting operations since October 2011 and worked at MTG since 1992, has decided to leave the Group on 31 December 2012 to assume a new position with Millicom International Cellular S.A.
Jørgen Madsen Lindemann, President and CEO of MTG, commented: “This appointment reflects Marek’s excellent leadership and development of the Prima TV enterprise, which is the second largest national commercial television broadcaster in the Czech Republic and currently operates 3 free-TV channels in the country. The channels achieved a combined target audience share of over 40% in the third quarter and have consistently increased their viewing and advertising market shares on an ongoing basis. We are committed to further expanding the scale and footprint of our operations in the region and Marek will oversee this expansion.”
“I would also like to thank Anders for twenty years of outstanding service to MTG, during which time he has been instrumental in a number of the Group’s key achievements. We wish him all the best for the future.”
Modern Times Group (MTG) is an international entertainment broadcasting group with operations that span four continents and include free-TV, pay-TV, radio and content production businesses. MTG’s Viasat Broadcasting operates free-TV and pay-TV channels, which are available on Viasat’s own satellite platforms and third party networks, and also distributes TV content over the internet. MTG is also the largest shareholder in CTC Media, which is Russia’s leading independent television broadcaster.
Modern Times Group is a growth company and generated record net sales of SEK 13.5 billion in 2011. MTG’s Class A and B shares are listed on Nasdaq OMX Stockholm’s Large Cap index under the symbols ‘MTGA’ and ‘MTGB’.
The information in this announcement is that which Modern Times Group MTG AB is required to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. It was released for publication at 08:00 CET on 7 December 2012.
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