Modern Times Group, the multi-territory commercial and pay-television broadcaster, has closed a deal to acquire a 75 per cent stake in global youth media brand and pay-television channel operator Trace Partners, which includes the Trace Sport Stars arm.
Under the terms of the deal, Trace management will own the remaining 25 per cent of the company and Trace co-founder Olivier Laouchez will continue as chairman and chief executive.
MTG will consolidate Trace in its accounts with effect from July 1 and report it within the pay-television emerging markets business segment. The agreement was first announced in February, but has completed following regulatory approval by the French media authorities.
Trace has distribution agreements in 160 countries worldwide, including all 55 countries in Africa.