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MTG names eSports, digital execs

Scandinavian media outfit Modern Times Group (MTG) has named the management team for its new eSports and digital video content arm ahead of the division’s split from the rest of the firm.

Jørgen Madsen Lindemann

MTG started the process of splitting into Modern Times Group MTG and Nordic Entertainment Group (NEG) in March, with the latter’s shares set to be distributed to MTG’s shareholders via Nasdaq Stockholm in the second half of 2018.

NEG will comprise MTG’s current Nordic Entertainment and MTG Studios business segments, as well as multi-channel network Splay, while Modern Time Group MTG will focus on eSports, digital video content and online gaming.

MTG named its NEG management team in April and has now unveiled the execs who will lead the Modern Times Group MTG business.

Peter Nørrelund, currently exec VP and CEO of MTG Sport, will become exec VP at MTG, head of product development and incubation, and co-CEO of DreamHack.

He takes up his new position from July 1 and his new position as DreamHack co-CEO with immediate effect, working alongside CEO and president Marcus Lindmark at the company.

Nørrelund will continue to be an advisor to NEG after the split, focusing on the company’s sports rights portfolio.

Meanwhile, Johan Levinsson becomes MTG Group’s general counsel, having worked across M&A for the company for the past two years. As previously announced, Jørgen Madsen Lindemann will be president and CEO of the new MTG and Maria Redin will be chief financial officer.

The new-look MTG company will comprise current eSports interests (ESL, DreamHack and ESEA), online gaming companies (InnoGames and Kongregate) and digital video content outfits (Zoomin.TV, Engage Digital Partners) operations.

MTG said the company would be “well funded and will focus on developing and expanding its portfolio of hyper growth global digital companies through a flexible buy and build strategy, which will be centred around key digital entertainment verticals.”

Lindemann said Nørrelund and Levinsson’s “experience and passion will be instrumental as we develop and expand our portfolio of hyper growth global companies in esports, online gaming and digital video content.”

MTG has been offloading its traditional TV operations over recent years, selling its linear networks and investing in eSports and digital companies.

A deal to combine MTG’s Nordic Entertainment and MTG Studios businesses with Danish telecoms firm TDC Group fell through earlier this year.

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