MTG: BULGARIAN BROADCASTING ASSETS TO BE MERGED INTO SINGLE ENTITY

MTG:  BULGARIAN BROADCASTING ASSETS TO BE MERGED INTO SINGLE ENTITY 

Modern Times Group MTG AB (publ.) (‘MTG' or ‘the Group'), the international
entertainment broadcasting group, today announced that it is reorganising the
ownership of its broadcasting assets in Bulgaria by merging all of its holdings
into Nova Televizia. MTG has signed an agreement with Apace Media plc whereby
the assets within the jointly owned Balkan Media Group Limited (‘BMGL') will be
transferred into MTG subsidiary Nova Televizia. MTG has owned 50% of BMGL since
March 2007 and completed the acquisition of 100% of Nova Televizia in October
2008. Following the non-cash transaction, MTG will own 95% of the enlarged Nova
Televizia group and will continue to fully consolidate the results of the
combined operations, whilst Apace will hold a 5% minority interest in the Nova
Televizia group.  

The assets being transferred from BMGL include the Diema, Diema Family, Diema 2
and MM channels in Bulgaria, as well as Albanian language channel ERA TV in
Macedonia. Nova Televizia operates the Nova TV channel, which is Bulgaria's
second most watched television channel.

The transaction is subject to local market regulatory approvals.

Hans-Holger Albrecht, President and CEO of MTG, commented: “This change will
substantially simplify the ownership structure of our operations in Bulgaria,
and is in line with our overall media house strategy. It will enable us to
accelerate the development of the combined operations by speeding up decision
making and the implementation of key initiatives.”



***


For further information, please visit www.mtg.se, email
investor.relations@mtg.se, or contact:

Hans-Holger Albrecht, President & CEO
Tel:       		+46 (0) 8 562 000 50
Investor & Analyst Enquiries:
Matthew Hooper: 	+44 (0) 7768 440 414
Oscar Hyléen:		+46 (0) 707 620 024
Email:   		investor.relations@mtg.se 
Press Enquiries:
Bert Willborg		+44 (0) 791 2280 850
Email:   		bert.willborg@mtg.se   	



Modern Times Group is a leading international entertainment broadcasting group
with the second largest geographical broadcast footprint in Europe. MTG's Viasat
Broadcasting is the largest free-TV and satellite premium pay-TV operator in
Scandinavia and the Baltics, and also operates free-TV channels in the Czech
Republic, Hungary, Slovenia Bulgaria, Macedonia and Ghana. MTG's TV assets are
broadcast in a total of 29 countries and reach over 100 million people. MTG is
also the major shareholder in Russia's largest independent television
broadcaster (CTC Media - Nasdaq: CTCM), and the number one commercial radio
operator in the Nordic and Baltic regions.

Modern Times Group MTG AB class A and B shares are listed on the OMX Nordic
Exchange Large Cap market (‘MTGA' and ‘MTGB').

The information in this announcement is that which Modern Times Group MTG AB is
required to disclose under the Securities Market Act and/or the Financial
Instruments Trading Act. It was released for publication at 08.00 CET on 3
March, 2009.