MT reveals plan to buy out content providers

1 May 2008

Hungarian fixed line incumbent Magyar Telekom (MT) has announced plans to buy out its partner IKO Production and purchase 100% stakes in domestic media content firms IKO New Media and IKO Content and Rights, Reuters reports. MT is looking to become a leading player in the interactive mobile services segment and in a regulatory filing said it would separate the activities of the holding company operated by itself and IKO Production. Under the deal, MT will buy the holding company, which owns IKO New Media, IKO Content and Rights, and a 31% stake in Hungary’s leading commercial television channel M-RTL, a unit of Luxembourg-based RTL Group.

Hungary, Magyar Telekom