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MTG sells loss-making Zoomin to Azerion

Monday 28 October 2019 | 11:44 CET | News
Modern Times Group (MTG) has announced the sale of 100 percent of its ownership of portfolio company Zoomin to Azerion, a Netherlands-based company active in media and entertainment. In the first six months of 2019, Zoomin had net sales of SEK 50 million and negative EBITDA of SEK 34 million. As a result of the transaction, MTG will report a net loss of approximately SEK 80 million in Q4 and will reclassify the business segment "Other" as "Discontinued operations".

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Categories: Internet
Companies: Modern Times Group
Countries: Netherlands / Sweden
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