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MTG sells Ghana, Nigeria TV businesses to Econet Media

Modern Times Group completed the sale of its free-TV broadcasting and production subsidiaries in Ghana and Nigeria to Econet Media Group for an undisclosed sum, the Swedish company said Dec. 16.

The divestment is in line with MTG's efforts to refocus its business from traditional broadcasting to digital video entertainment.

Meanwhile, MTG's sale of its free-TV broadcasting business in Tanzania to Econet Media is expected to be completed in the first quarter of 2017, subject to regulatory approval in the country.