P4 Radio Hele Norge to prolong national radio license in Norway

P4 Radio Hele Norge to prolong national radio license in Norway

Modern Times Group MTG AB (publ.) (‘MTG' or ‘the Group'), the
international entertainment broadcasting group, today announced that its
wholly-owned subsidiary, P4 Radio Hele Norge, which is the leading
commercial radio operator in Norway, will be offered the opportunity to
prolong its P4 national analogue radio broadcasting license until the
planned closing of FM broadcasting in 2017. P4 is already broadcast in
DAB digital radio in Norway.

A bill recently passed by the Norwegian Parliament outlining the plan
for the digitalisation of radio broadcasting and the closing down of
analogue FM broadcasting in Norway. To facilitate the digital
transition, the bill makes it possible for existing Norwegian national
commercial radio broadcasters to prolong their licenses from 2014 until
the cessation of FM broadcasting, which is due to take place in 2017.
Thereafter, all radio will be broadcast digitally and no licenses will
be required. Existing analogue license holders that prolong their
licenses will be required to participate in the expansion of the
existing commercial digital radio networks to cover 90% of the Norwegian
population.

P4 Radio Hele Norge is Norway's leading commercial radio network, with a
daily reach of over 1.1 million listeners and a 32.5% audience share
amongst 20 to 50 year olds in the first quarter of 2011. P4 Radio Hele
Norge also owns and operates the P5 local city network in Norway, which
is broadcast in the cities of Oslo, Bergen, Trondheim and Stavanger and
reaches a total potential audience of two million listeners. P4 Radio
Hele Norge's total revenues grew by 25% in 2010.

Hans-Holger Albrecht, President and CEO of MTG, commented: “P4 Radio is
the leading commercial radio operator in Norway, one of the largest
commercial media in Norway by reach. We are pleased to have the
opportunity to extend our broadcasting license and to play a leading
role part in the transition to DAB digital radio broadcasting in Norway.
Radio is a major and growing advertising medium in Norway, and the
digitalisation process will only accelerate this development.”

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For further information, please visit www.mtg.se (http://www.mtg.se/) or
contact:

Hans-Holger Albrecht, President & CEO
Tel: +46 (0) 8 562 000 50 

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Jacob Waern / Matthew Hooper
Tel:  +46 (0) 736 992 991 / +44 (0) 7768 440 414
Email: investor.relations@mtg.se (investor.relations@mtg.se) 

Media Enquiries:
Jacob Waern
Tel: +46 (0) 736 992 991
Email: press@mtg.se (press@mtg.se)