Global private equity firm Providence Equity Partners on Wednesday finalized the acquisition of the TV3 media group from Sweden's concern Modern Times Group (MTG).
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TV3 is the brand name used by Viasat's flagship channels in Scandinavia, the Baltic States, Hungary, and Finland. Viasat is part of the Swedish media company Modern Times Group. The first TV3 channel was launched on New Year's Eve 1987, breaking the monopoly on broadcasting in the Scandinavian languages.
Swedish media group MTG's decision to sell its Baltic business, including Lithuania's television group TV3, to US-based Providence Equity Partners will allow maintaining Western business traditions in the media market, a Lithuanian communication and media expert said.
Lithuania's Parliamentary Speaker Viktoras Pranckietis and State Security Department chief Darius Jauniškis on Tuesday discussed the possible plans of the Swedish media concern Modern Times Group (MTG) to sell its business in the Baltic states, including the TV3 television group.
