STOCKHOLM, Sweden, Jan. 31, 2002 (PRIMEZONE) -- Modern Times Group MTG AB (Nasdaq:MTGNY), the international media group, announced that it today acquired the 'Vision' weekly business newspaper from its founders for an undisclosed amount in cash. Vision is a well known Swedish newspaper and online news site, which will complement MTG's other financial publishing activities, including the financial daily, Finanstidningen, the monthly popular business magazine Kapital, and the financial news channel TV8.
Hans-Holger Albrecht, President and CEO of MTG, commented: "Vision has an entrepreneurial team and an editorial focus on the media, telecommunications and technology sectors. The company is a strong, strategic fit with our publishing division, which is focused on providing news and comment on business and finance."
The newspaper was founded by Peppe Engberg, Pontus Forsstrom and Bengt Uggla, and attracts 20,000 readers each week.
Modern Times Group MTG AB has seven business areas: Viasat Broadcasting (free-to-air and pay TV channels in nine countries), Radio (seven networks in five countries), New Media (the Everyday interactive TV portal, Internet portal, Mobile portal and teletext services), Publishing (financial news and information services), Modern Interactive (home shopping, e-commerce and logistics), SDI Media (subtitling and dubbing services) and Modern Studios (content production and library).
Modern Times Group MTG AB's class A and B shares are listed on the Stockholmsborsen O-list (symbols: MTGA and MTGB) and ADRs are listed on the Nasdaq National Market in New York (symbol: MTGNY).
For further information, please visit www.mtg.se, email info@mtg.se
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