Scandinavian media company Modern Times Group (MTG) is slated to sell off its Ukrainian pay-TV operations to Ukraine’s 1+1 Media Group, subject to local market regulatory approval.
The pay-TV provider Viasat Ukraine is a joint venture between MTG and the Strong Media Group and offers licensed TV packages of approximately 110 channels through its satellite pay-TV platform. Additionally, the network provides Kyivstar – Ukraine’s largest telecoms operator – with the digital pay-TV platform for its recently launched OTT service.
The news follows MTG’s October 2015 announcement that Sony Pictures Television had acquired its raft of Hungarian-owned TV channels.
Last year, the Scandinavian television operator cut approximately 300 jobs across Sweden, Norway, Denmark and the UK as part of an effort to drive the company’s digital growth, which followed a management realignment aimed at reflecting fast-moving consumer trends.
“The sale of our Ukrainian operations is part of our ongoing strategic portfolio review,” said Jørgen Madsen Lindemann, MTG president and CEO, in a statement. “The Ukrainian team have created popular TV entertainment platforms and products, and we wish them every success in the future.”