Pan-Nordic television operator Modern Times Group has completed its buy-out of Danish pay-television sports broadcaster TV2 Sport after the deal was approved by the Konkurrencestyrelsen, the Danish competition authority.
MTG, which controlled 51 per cent of TV2 Sport, has acquired the remaining 49-per-cent stake from state-owned basic-tier pay-television broadcaster TV2.
The payment for the shares comprises an undisclosed cash consideration and the transfer of the exclusive Danish broadcast rights for the 2016 and 2018 editions of the European Handball Championships national team tournament from MTG to TV2.
MTG will assume full management and operational control of TV2 Sport from January 1.
“This acquisition reflects the success of the TV2 Sport operation and further enhances our market leading standard-definition and high-definition sports coverage,” MTG president and chief executive Jørgen Madsen said. “It is clear that our pay-TV sports channel and content offering, when also combined with the sports coverage on our free-TV channels including TV3+, is the most comprehensive in the market and is available to subscribers on multiple TV distribution platforms.”