STOCKHOLM, Sweden, March 14, 2002 (PRIMEZONE) -- Modern Times Group MTG AB (Nasdaq:MTGNY), the international media group, today announced that a distribution agreement has been signed with Scandic Hotels, which is part of the Hilton Group. The daily financial newspaper Finans Vision, as well as the magazines Kapital and Moderna Tider will now be available at all Scandic Hilton hotels in Sweden.
This agreement means that 5,000 copies of Finans Vision will be delivered daily to the 68 Scandic Hotels in Sweden as well as some 17,000 copies of the monthly magazine Kapital and 2,300 copies of Moderna Tider. Finans Vision will be distributed in newspaper racks by the conference rooms and in the lobby of the hotels; Kapital will be distributed to all hotel rooms; and Moderna Tider will be available in hotel meeting areas. The agreement will be effective starting this week.
"Scandic Hotels are very pleased to be able to offer all our hotel guests Sweden's new daily business paper -- Finans Vision. The agreement with MTG Publishing also includes the distribution of Kapital and Moderna Tider, so that our guests will now receive quality daily business news as well as entertaining reading within the areas of culture and lifestyle," said Lars Petersson, procurement director of Scandic Hotels.
"We are very excited to sign a distribution agreement with the nationwide Scandic Hilton chain. It gives us the opportunity to offer Finans Vision to our readers when they are traveling on business so that they can obtain their newspaper when they are not in their homes or their workplace. Scandic Hilton will also bring us many new readers who stay at, or visit Scandic Hilton's hotels," said Hans-Holger Albrecht, President and CEO of MTG.
Modern Times Group MTG AB has six business areas: Viasat Broadcasting (free-to-air and pay TV channels in nine countries, and the new media businesses -- teletext operations and the Everyday interactive TV, internet and mobile portals), Radio (local and national networks in five countries), 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 rights 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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