The Modern Times Group media company has completed the sale of a 50-per-cent stake in Czech commercial broadcaster FTV Prima Holding to Denemo Media.
The deal, valued at €116m ($126m), will enable Denemo Media to be the 100-per-cent owner of Prima, which has broadcast a variety of sports properties over recent years.
MTG said it intends to use the proceeds from the sale to increase its stake in online games developer InnoGames from 21 per cent to 51 per cent. MTG announced its initial investment in InnoGames in October.