STOCKHOLM, Sweden, April 30, 2002 (PRIMEZONE) -- Modern Times Group MTG AB (Nasdaq:MTGNY), the international media group, today announced that it has started selling DVDs on the internet under the brand-name DVDON.com
MTG's Modern Interactive business area has launched the new internet site today and is already selling a catalogue of the latest blockbusters and more than 1000 DVD films in total. The market for DVDs has grown exponentially over the last years, with revenues from the sale of DVDs increasing by 121% in 2001 to U.S. $ 28 million in Sweden alone. DVDON.COM builds on the highly successful CDON.COM internet retail site, and will similarly also offer CDs and electronic games.
Hans-Holger Albrecht, President and CEO of MTG, commented: "We have already developed CDON into the second largest internet CD shop in Scandinavia, with relatively low levels of investment. DVD is the fastest growing electronic product in history and we expect to emulate the success of CDON given the knowledge that we have acquired through the development of our profitable internet retailing business."
For further information, please visit www.mtg.se, email info@mtg.se, or contact:
Hans-Holger Albrecht, tel: +46 (0) 8 562 000 50
President & CEO
Matthew Hooper, Investor & tel: +44 (0) 20 7321 5010
Press Relations
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 on the Nasdaq National Market in New York (symbol: MTGNY).
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
www.waymaker.net/bitonline/2002/04/30/20020430BIT00290/wkr0001.doc www.waymaker.net/bitonline/2002/04/30/20020430BIT00290/wkr0002.pdf