MTG to sell Ukrainian assets to 1+1

Modern Times Group has signed an agreement to sell its Ukrainian pay TV operation to local commercial broadcaster 1+1 Media Group, subject to local regulatory approval.

In addition to offering various packages of up to 110 channels via satellite, Viasat Ukraine provides the TV content for mobile telecom provider Kyivstar’s OTT TV offering, which includes up to 130 TV channels and video-on-demand services.

MTG’s Ukrainian operation has been struggling for some time. The company said in its recentfull-year report that a solution was “currently being finalised” with regards to the unit.

“The sale of our Ukrainian operations is part of our ongoing strategic portfolio review. The Ukrainian team have created popular TV entertainment platforms and products, and we wish them every success in the future,” said Jørgen Madsen Lindemann, MTG president and CEO.

1+1 CEO Alexander Tkachenko said that hisgroup planned to develop the operation’s subscriber base. He said that fighting piracy would be a priority.

MTG has already sold its Russian operations following changes to the country’s overseas media regulations.

The company axed 300 jobs last year as part of a “restructuring programme”.