MTG takes GES stake

World Brief

International broadcasting giant Modern Times Group has inked a $112 million pact to take a 50% stake in GES Media Holding, which owns TV Prima, the Czech Republic’s second- largest TV channel.

Launched in 1993 as the country’s first commercial TV channel, TV Prima has a penetration of more than 98% of the 4 million TV viewing households. Its license to broadcast runs until 2018.

GES Media Holding’s gross sales was $57 million in 2004. The company reported earnings before in-terest and tax of $10.7 million.

MTG operates in more than 30 countries and is the largest free-to-air and pay TV operator in Scan-dinavia and the Baltics.

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