STOCKHOLM, Sweden, April 5, 2005 (PRIMEZONE) -- Modern Times Group MTG AB, the international entertainment-broadcasting group, today announced that Anna Carrfors Brakenhielm will step down from her role as Managing Director of Strix Television and join the Board of Directors of the Company as Chairman with effect from 1 July 2005. Robert Aschberg, one of the founders of Strix and currently a working member of the Board, will take over as the acting Managing Director of the business until a replacement for Anna is appointed.
Strix Television was set up in 1988 and is today one of the world's leading producers of reality-TV formats. Strix's 23 formats have been licensed or optioned to broadcasters and production companies in 67 different countries around the world. Strix was the first Production Company in the world to produce the now world-famous and original reality-TV format -- 'Survivor'. Strix produced or co-produced nine series of the hit format ('Expedition Robinson') on location in Malaysia during 2004 alone. Strix has pioneered a number of other award-winning formats over the years including 'The Bar' and 'The Farm'. Net sales for the business were up 33% to over SEK 560 million in 2004 and the company doubled its operating profits to report an operating margin of 22%. Strix has also recently entered the competitive Dutch TV production market with the establishment of a production office in February 2005.
"We thank Anna for her great contribution to the development and success of Strix. We are delighted that she will continue to be involved in the Company as Chairman and we wish her every success in the future. Robert is one of Sweden's best-known media personalities and programme hosts, and his current work on Insider and Club Goa will continue to ensure a high profile for Strix. We have already begun the process of identifying potential successors at the helm of this exciting business, but Robert will assume the day to day management of the business in the intervening period," said Hans-Holger Albrecht, President and CEO of MTG.
Anna Carrfors Brakenhielm commented: "This is one of the most difficult decisions that I have made in my life. I have worked for Strix for 15 years, 8 of which as Managing Director. It has been a fantastic experience and I have thoroughly enjoyed every minute. We have not only built a market-leading Production Company in Scandinavia but also become a player in the international TV production markets. It is now time for new challenges, but I am happy to be able to continue my involvement with the strong team at Strix through my work as Chairman of the Board."
For further information, please visit www.mtg.se, email info@mtg.se, or contact:
Hans-Holger Albrecht, President & CEO tel: +46 (0) 8 562 000 50 Matthew Hooper, Corporate Communications tel: +44 (0) 20 7321 5010
Modern Times Group is an international entertainment-broadcasting group with operations in more than 30 countries around the world. MTG is the largest Free-to-air and Pay-TV operator in Scandinavia and the Baltics, the largest shareholder in Russia's fourth largest television network, and the number one commercial radio operator in the Nordic region. The Viasat DTH satellite TV platform offers digital multi-channel TV packages of 50 own-produced and third party entertainment channels to viewers in 15 countries across Europe and Viasat TV channels now reach over 50 million people every day.
Modern Times Group MTG AB class A and B shares are listed on the Stockholmsborsen O-list under the symbols 'MTGA' and 'MTGB'.
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