STOCKHOLM, Sweden, May 6, 2002 (PRIMEZONE) -- Modern Times Group MTG AB (Nasdaq:MTGNY), the international media group, today announced that Everytext, has launched its services on the Canal 7 TV channel in Madrid. This agreement supplements Everytext's existing services to other national and regional TV broadcasters in Spain.
Everytext has today launched its teletext services on Canal 7, a privately owned regional TV station in the Madrid area, which focuses on delivering entertainment programming to a youth TV audience. The agreement is for four years. Everytext already produces teletext services for TeleMadrid, the largest TV channel in the Madrid area as well as to other national and local TV channels. However, Canal 7 and TeleMadrid reach a different profile of audience, and the two channels have a combined reach of 6 million people.
Hans-Holger Albrecht, President and CEO of MTG, commented: "This agreement further strengthens Everytext's position in the thriving commercial area of Madrid. Everytext's net sales increased by 41% in 2001 and it is the leading producer of teletext services in Europe."
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, Investor & Press Relations tel: +44 (0) 20 7321 5010
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 onthe Nasdaq National Market in New York (symbol: MTGNY).
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