MTG ACQUIRES 50% OF CZECH MEDIA GROUP
Modern Times Group MTG AB, the international entertainment-broadcasting group, today announced that it has signed an agreement to acquire 50% of the issued share capital of GES Media Holding a.s. (“GMH”) in the Czech Republic from GES Media Europe B.V., for a total cash consideration of € 96 million. GMH owns 100% of FTV Prima, spol. s r.o. (“TV Prima”), which is the second largest national television channel in the Czech Republic. GMH’s gross sales in 2004 amounted to Czech Koruna 1,542 million (€ 48.3 million) and GMH reported earnings before interest and taxes of CZK 291 million (€ 9.1
