MTG has agreed a deal with TPG Growth to sell its 75 per cent shareholding in Trace Partners SAS.
The deal will reportedly cost TPG €30 million and is subject to regulatory approvals.
The move comes as MTG looks to focus on accelerating the digital transformation of its broadcasting businesses, as well as the expansion of its MTGx digital entertainment portfolio.
Jørgen Madsen Lindemann, MTG president and CEO, said: “Trace is a great business that we have enjoyed developing together with its talented management team over the past four years. It is a global pioneer in Afro-urban entertainment and is now rolling out its streaming service Trace Play around the world.”
“We are delighted that TPG Growth will now support the next steps in Trace’s development. We thank the whole Trace team for their dedication to delivering fantastic entertainment experiences during their time as part of the MTG family, and we wish them every success moving forward.”