You will be redirected back to your article in seconds

MTG partners in Latvian TV

Scandi conglom continues Baltic move

AMSTERDAM — Scandinavian media conglom Modern Times Group (MTG) has moved to bulk up its Baltic States holdings for the second time in the last two weeks, this time acquiring a majority stake, along with a private business partner, in Latvian Channel 31.

Channel 31, which has a 50% reach, is to be renamed TV3 Latvia, giving MTG’s TV3 chain a presence in all three Baltic States.

The 51% stake was acquired from Parex Bank, Latvia’s largest financial institution, by MTG and Swedish Latvian businessman Karl Mikael Cakste. Parex Bank will retain a 49% stake in the channel.

More Biz

  • Transformers Bumblebee Superhero Girl

    Hasbro and DC Comics Settle 'Bumblebee' Trademark Dispute

    AMSTERDAM — Scandinavian media conglom Modern Times Group (MTG) has moved to bulk up its Baltic States holdings for the second time in the last two weeks, this time acquiring a majority stake, along with a private business partner, in Latvian Channel 31. Channel 31, which has a 50% reach, is to be renamed TV3 […]

  • Terry Crews

    Terry Crews' Ex-Social Media Manager Claims Actor Defamed Him, Owes Him $1 Million

    AMSTERDAM — Scandinavian media conglom Modern Times Group (MTG) has moved to bulk up its Baltic States holdings for the second time in the last two weeks, this time acquiring a majority stake, along with a private business partner, in Latvian Channel 31. Channel 31, which has a 50% reach, is to be renamed TV3 […]

  • David Nevins, President & CEO of

    Listen: Showtime's David Nevins on How Streaming Has Changed the Game

    AMSTERDAM — Scandinavian media conglom Modern Times Group (MTG) has moved to bulk up its Baltic States holdings for the second time in the last two weeks, this time acquiring a majority stake, along with a private business partner, in Latvian Channel 31. Channel 31, which has a 50% reach, is to be renamed TV3 […]

  • Ajit Pai FCC

    Why a Few Derailments Won't Stop the Media Merger Train

    AMSTERDAM — Scandinavian media conglom Modern Times Group (MTG) has moved to bulk up its Baltic States holdings for the second time in the last two weeks, this time acquiring a majority stake, along with a private business partner, in Latvian Channel 31. Channel 31, which has a 50% reach, is to be renamed TV3 […]

  • Amazon Music Names Andre Stapleton Head

    Amazon Music Names Andre Stapleton Head of U.S. Label Relations

    AMSTERDAM — Scandinavian media conglom Modern Times Group (MTG) has moved to bulk up its Baltic States holdings for the second time in the last two weeks, this time acquiring a majority stake, along with a private business partner, in Latvian Channel 31. Channel 31, which has a 50% reach, is to be renamed TV3 […]

  • Aerosmith Announces ‘Deuces Are Wild’ Las

    Aerosmith Announces ‘Deuces Are Wild’ Las Vegas Residency

    AMSTERDAM — Scandinavian media conglom Modern Times Group (MTG) has moved to bulk up its Baltic States holdings for the second time in the last two weeks, this time acquiring a majority stake, along with a private business partner, in Latvian Channel 31. Channel 31, which has a 50% reach, is to be renamed TV3 […]

  • Monster Hunter: World

    Tencent Logs $6 Billion Half Year Profit but Games Slowdown Hits Revenues

    AMSTERDAM — Scandinavian media conglom Modern Times Group (MTG) has moved to bulk up its Baltic States holdings for the second time in the last two weeks, this time acquiring a majority stake, along with a private business partner, in Latvian Channel 31. Channel 31, which has a 50% reach, is to be renamed TV3 […]

More From Our Brands

Access exclusive content