MTG Studios has acquired a controlling stake in Scandinavian production group Nice Entertainment for a price in excess of £70 million (€82m).
Nice operates production companies across the region including Monster, One Big Happy Family, Playroom, and Rakett in Norway; Titan, Baluba and Nice Drama in Sweden; Moskito, Production House, and Grillifilms in Finland; and Gong in Denmark and was one of the last pan regional companies to be available.
MTG Studios has acquired the stake from private equity group Capman, which has sold 100 per cent of its holding. Nice Entertainment’s successful formats including Babes on the Bus, Dinner Disasters and Celebrity Babysitter.
“Nice is a fantastic company and a perfect strategic fit with MTG Studios, with well-diversified TV-production and relationships with all of the major Scandinavian broadcasters, as well as a unique approach to integrating TV and event production. It will be business as usual for Nice, and they will continue as an independent group of production companies serving all clients in the Nordic region” said Patrick Svensk, chief executive and chairman of MTG Studios.
Modern Times Group also recently acquired UK distributor DRG.