MTG receives payment for CTC Media shares

MTG today announced that it has completed the sale of its 38% shareholding in
CTC Media, Inc. The cash payment received amounts to a total of USD 123.0
million, which is equivalent to SEK 1,023 million. MTG no longer has any
interests in CTC Media or its operations.
The transaction will also give rise to a total negative non-cash impact of SEK
1,002 million in the ‘net income from discontinued operations’ line of the
Group’s Q2 results income statement. This is mainly due to the accumulated
currency translation differences, which have previously been booked to Group
equity, and the adjustment to the fair value of the holding when compared to the
balance sheet as at 31 March.

As previously announced, the cash proceeds will be used to reduce MTG’s
borrowing levels and fund the ongoing development of the Group’s digital video
entertainment businesses.

Any questions?
www.mtg.com
Facebook: facebook.com/MTGAB
Twitter: @mtgab
press@mtg.com  (or Jessica Sjöberg  +46 76 494 09 13
investors@mtg.com (or Stefan Lycke)  +46 73 699 27 14

MTG (Modern Times Group MTG AB (publ.)) is a leading international entertainment
group. Our shares are listed on Nasdaq OMX Stockholm (‘MTGA’ and ‘MTGB’).  The
information in this announcement is that which MTG is required to disclose
according to the Securities Market Act and/or the Financial Instruments Trading
Act, and was released at 17:45 CET on 23 May 2016.