MTG to split int0 two companies
Scandinavian media co Modern Times Group (MTG) is dividing itself into two companies.
The split will result in the Modern Times Group AB and Nordic Entertainment Group (NEG) with all the shares from NEG going to MTG’s shareholders, which will be listed on the Nasdaq Stockholm.
According to a release from MTG, the two separate companies will have “clear investment profiles that are well positioned to capitalize on consumer trends, capture growth opportunities, and generate sustainable value for owners, customers and employees.”
MTG’s board of directors aims to propose the listings and distribution of the shares at its extraordinary general meeting of its shareholders in the latter half of 2018.
The Modern Times Group MTG AB will encompass MTG’s eSports, online gaming and digital video operations, as well as its other minority holdings. MTG will focus on developing and expanding its portfolio of hyper growth global digital companies. The company will continue to be based in Stockholm and led by MTG president Jørgen Madsen Lindemann (pictured).
Elsewhere, Nordic Entertainment Group will comprise of MTG’s current Nordic Entertainment and MTG Studios business segments, as well as Splay Networks. The company will be based in Stockholm and will be led by Anders Jensen, currently MTV’s EVP and CEO of Nordic Entertainment, who will be named president and CEO of NEG.
The board’s final proposal will be subject to the previously announced combination of MTG’s Nordic Entertainment and MTG businesses with Danish telecoms TDC Group not being completed.
Wildflame to acquire Green Bay Media
Flame Media Group’s Wales-based prodco Wildflame Productions has acquired Cardiff indie producer Green Bay Media.
The acquisition will see Wildflame move to new premises in Cardiff’s creative quarter in an effort to grow its production talent base and prepare for the delivery of several major productions.
Founded in 2001 by Phil George and John Geraint, Green Bay Media has worked with international broadcasters including the BBC, ITV, Channel 4, Channel 5, S4C, History Channel, National Geographic and France Télévisions.
Green Bay’s co-pro titles consist of more than 50 hours of blue-chip documentaries, including The Story of Wales, The Roman Invasion of Britain, Shakespeare: The King’s Man, The Castle Builders and 2017′s Mountains and Life.
“We are delighted to welcome the Green Bay Media team as we enhance our UK production division and talent base. We have been highly impressed with the quality of staff and the creative ambition in Wales and Green Bay has an enviable reputation in factual programming,” said John Caldon, Flame Group’s chair and CEO, in a statement.
Channel 5 commissions Arrow Media for The World’s Greatest Mountains
UK commercial broadcaster Channel 5 has commissioned London-based indie Arrow Media for a four-part series that explores the world’s best-known mountains.
The World’s Greatest Mountains will survey the peaks of Mount Everest, Mount Kilimanjaro, Mont Blanc and Ben Nevis through the use of archival footage and never-before-seen user-generated content. The series will feature the people who’ve lived, worked and climbed the mountains offering their take on each peak, including Sherpas and guides, the medics working in the world’s highest hospital on Everest, and wildlife experts who track animal populations.
The World’s Greatest Mountains, which bow on April 3 at 9 p.m. on Channel 5, also tells historical stories that have changed the way we live. From the men who invented modern mountaineering by climbing Mont Blanc more than 230 years ago, to those who made it to the summit of Ben Nevis and stayed there for 20 years, collecting the data that transformed our understanding of weather.