MTG accelerates digital development - Senior management changes

Following MTG’s investment in a number of scale new digital ventures and
reorganisation into a country management structure over the past 6 months, the
management of the Group’s digital businesses, including digital accelerator
MTGx, are changing shape.

  ·
The online advertising video on demand operations across 8 countries will now
sit within the local country organisations, closer to the customer and local
product offerings. Group AVOD revenues were up 42% in the first 9 months of 2015
and started streams were up over 100%.

  ·
The MTGx central video on demand technical functions for both the Play and
Viaplay services are being united under the leadership of Nordic digital
streaming business Viaplay’s CEO Jonas Karlén, who will now report directly to
Group CEO Jørgen Madsen Lindemann. Viaplay’s subscription video on demand
started streams more than doubled in Q3 2015.

  ·
MTGx Ventures will continue to focus on the development of the exciting new
Ventures Businesses comprising Turtle Entertainment (74% owned), Zoomin.TV (51%
owned), Splay (81% owned) and DreamHack (100% owned), as well as a number of
early stage start-ups, academies and hubs.  These fast growing businesses
together generate more than 2.4 billion monthly views globally and combined
annual external sales of more than SEK 850 million. Arnd Benninghoff has headed
up the Group’s digital ventures since joining MTG in November 2014 from his role
as CDO of ProsiebenSat1, and will now become an MTG Executive Vice President as
well as CEO of MTGx Ventures.


Arnd will report to Mathias Hermansson, who returns to work on 18 December after
his period of leave. Mathias will take on the new role of Executive Chairman of
MTGx Ventures and adviser to MTG’s President & CEO on a number of strategic
projects. Maria Redin’s role as acting CFO is now made permanent with immediate
effect. As a result of all of these changes, Rikard Steiber, MTG EVP and Chief
Digital Officer, is leaving MTG.

“The group is transforming fast now and we have a scale and high growth digital
business, with leadership in key complementary online video categories. MTGx has
disrupted and catalysed the organisation as planned and we now have considerable
momentum in the digitalisation of our existing businesses and addition of new
ones.

This strategic transformation of our business is a clear priority for MTG.
Rikard’s job of creating MTGx and setting us on the transformation path is done,
so he moves on with our thanks. Arnd’s job has just begun after acquiring some
very exciting new brands and teams. He now steps up to become an EVP and work
closely with Mathias, who takes on a new role. MTGx Ventures will now accelerate
the development of what we have, while also identifying and converting other
complementary and attractive opportunities. And I am delighted that Maria now
also steps up permanently to a role that she has made her own over the past 6
months.”

Jørgen Madsen Lindemann, MTG President and CEO

****
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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 08:00 CET on 3 December 2015.