Companies' operations to come together
Time Warner subsidiary Turner Broadcasting System has bought Scandinavia’s Millennium Media Group for an undisclosed sum.The deal will unite the two companies’ activities, teams and operations in the Nordic markets. MMG founders C.G. Anderson and Ignas Scheynius will head the new group, which will be based in Stockholm but with additional staff in the Turner offices in Copenhagen and London. The new company, which will keep the name Millennium Media Group, has a portfolio consisting of MMG channels Star!, Showtime, Silver, Silver HD and TV7, as well as Turner channels CNN, Cartoon Network, Turner Classic Movies and Boomerang. The other MMG business units — NonStop Entertainment, NonStop Sales and PrimeText Intl. — are included in the deal. The channels will be available in Scandinavia as well as in the Baltics, Benelux and Africa.