Modern Times Group to buy out TV2 Sport in Denmark

Modern Times Group (MTG), the multi-territory commercial and pay-television broadcaster, has agreed a deal to take full control of Danish pay-television broadcaster TV 2 Sport, currently a 50-50 joint venture between MTG and Danish commercial broadcaster TV2.

MTG will assume full operational control of TV2 Sport, which includes the TV2 Sport, TV2 Sport HD and TV2 Sport Premier League pay-television channels.

Under the terms of the takeover, MTG will pay TV2 an “undisclosed cash consideration” and will also hand over the media rights in Denmark for the European Handball Championships in 2016 and 2018.

TV2 was the long-term incumbent rights-holder of the European Handball Championships until MTG acquired the rights for the 2016 and 2018 events in a pan-Scandinavian deal agreed in June.

The transaction is subject to regulatory approval in Denmark.

TV2 Sport was launched by the two parties in 2007, and has operated independently from the two parent companies. The TV2 Sport Premier League channel is dedicated to covering the top flight of English football. The TV2 Sport and TV2 Sport HD channels provide coverage of the top domestic football league – the Superligaen – as well as the Uefa Champions League, NFL American football and NHL ice hockey.

TV2 Sport reported revenues of DKK348 million (€46.7 million/$60.3 million) and an operating profit of DKK17 million in 2011.