Nordic entertainment group Modern Times Group (MTG) has finalized its acquisition of the Nice Entertainment Group – made up of Monster, Rakett, Titan, Gong and Moskito Television, production companies based in Norway, Denmark, Sweden and Finland respectively.
As part of the previously reported deal, MTG gains 86.8% ownership of Nice Entertainment Group, following the receipt of regulatory approval from the Swedish and Norwegian competition authorities.
Nice Entertainment group is headed up by Morten Aass, CEO and Martin Hakansson, CCO.
Its output includes Babes on the Bus, Dinner Disaster and Celebrity Babysitter, and its revenues of €121 million (US $161 million) for 12 months ending on June 30, 2013, will be consolidated into MTG’s accounts, beginning November 1 (today).
MTG owns broadcasters including Viasat Broadcasting, and MTG Studios operates Strix production companies in Scandinavia and the Netherlands; Paprika Latino in Eastern Europe and Costa Rica; DRG in the UK; Novemberfilm in Norway; and Redaktörerna in Sweden.