NENT Group and TV 2 Danmark agree settlement in damages case
Nordic Entertainment Group (NENT Group) and TV 2 Danmark have today agreed a settlement relating to NENT Group’s claim for damages submitted in 2006. TV 2 Danmark will pay NENT Group DKK 430m (approximately SEK 600m) as a full and final settlement of the case.
NENT Group’s claim against TV 2 Danmark and its owner, the Kingdom of Denmark, before the High Court of Eastern Denmark related to competition and state aid issues, including TV 2 Danmark’s use of certain rebates on TV advertisements between 2001 and 2010.
The claim was filed on the basis of a 2005 ruling by the Danish Competition Council, which found that TV 2 Danmark’s use of these rebates constituted abuse of a dominant position. The Council’s ruling was upheld by Denmark’s Supreme Court in 2011. Today’s settlement has been reached after clarification of several fundamental legal issues.
Anders Jensen, NENT Group President and CEO: “We are pleased finally to conclude this very long process with an outcome that is financially positive for our company. It also serves as a strong message around the importance of fair competition, and is therefore positive for the broader Danish market.”
The payment from TV 2 Danmark will be reported as a positive item affecting comparability in NENT Group’s Q1 financial results on 26 April.
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NOTES TO EDITORS
Nordic Entertainment Group AB (publ) (NENT Group)’s Viaplay streaming service is available in Sweden, Denmark, Norway, Finland, Iceland, Estonia, Latvia, Lithuania, Poland, the US and the Netherlands. Viaplay will launch in the UK in 2022, followed by Canada, Germany, Austria and Switzerland by the end of 2023. We operate streaming services, TV channels, radio stations and production companies, and our purpose is to tell stories, touch lives and expand worlds. Headquartered in Stockholm with a global perspective, NENT Group is listed on Nasdaq Stockholm (‘NENT B’).
This information is information that Nordic Entertainment Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact persons set out below, at 09:35 CET on 31 March 2022.
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