Sweden’s MTG has agreed to sell its Baltic broadcasting operations to Providence Equity Partners, the latest deal in its transformation from a traditional broadcaster to a digital entertainment firm.

Founded 30 years ago by media mogul Jan Stenbeck – who also created telecom operators Tele2 and Millicom – MTG now faces declining linear TV viewing and is pushing into the multi-billion dollar online gaming market.

CEO Jorgen Madsen Lindemann sees MTG becoming a global player within digital entertainment and a Nordic player within its traditional operations.

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