STOCKHOLM, Sweden, Jan. 25, 2002 (PRIMEZONE) -- Modern Times Group MTG AB (Nasdaq:MTGNY), the international media group, today announced that Sweden's 'Radio- & TV-verket' regulatory authority has approved MTG Radio's takeover of the 'Lugna Favoriter' and 'Wow 105.5' radio stations from the RTL Group. This will further consolidate the Swedish radio market, and strengthens MTG Radio's competitive position substantially.
MTG Radio already operates the radio stations 'RIX FM' and 'Power Hit Radio' and, through the takeover of 'Lugna Favoriter' and 'Wow 105.5', will further strengthen its position on the Swedish radio market. 'Lugna Favoriter', Stockholm's most popular radio station, has 137,000 listeners, and 'Wow 105.5' has 45,000 listeners in Stockholm. The four stations will have a combined total of 347,000 daily listeners, meaning that MTG Radio doubles its number of listeners in Stockholm.
Hans-Holger Albrecht, President and CEO of MTG, commented: "The combination of the strong brands will provide advertisers with an exceptionally strong marketing platform."
Susanna Berva, Head of MTG Radio, said: "The takeover of 'Lugna Favoriter' and 'Wow 105.5' will enable us to offer our advertisers an unrivalled reach within radio. Both stations complement MTG Radio's 'RIX FM', Sweden's largest commercial radio network, and 'Power Hit Radio', Stockholm's second largest station".
MTG Radio also operates the 'Star FM' stations in Estonia and Latvia and holds stakes in 'P4 Radio Hele Norge' and 'Radio Nova', which are the only nationwide commercial radio operators in Norway and Finland respectively.
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).
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