NENT AGM approves 10% shares buy-back

Nordic Entertainment Group (NENT) reported that at its AGM on May 19th, shareholders voted to approve a 10 per cent repurchase of the company’s shares.

NENT operates video streaming services for its pan-Nordic customers on its Viaplay and Viafree as well as pay-TV platform Viasat.

Its holdings include several free-to-air TV channels including TV3 Sweden, TV3 Norway and TV3 Denmark.

The pay-TV bundle includes the Viasat family of sports, film, and kids channels. NENT also operates around a dozen radio channels spread between Sweden and Norway.

NENT started trading as a separate operation on July 1st 2018 with its shares being listed on March 28th 2019.

NENT itself came about after Stockholm-based Modern Times Group divided itself into two entities, one of which was NENT.

NENT is now in a 50/50 j-v with Telenor’s Canal Digital in Allente which offers TV via satellite, streaming and other services to a total of 1.2 million customers in Norway, Sweden, Denmark, and Finland. The JV has been formed as a distribution partner for Viasat’s pay TV channels and its free TV channels, all of which will continue to be owned by NENT Group.