MTV to buy stake in Euro web
Wegener deal is first int'l purchase for net
What MTV is paying was not disclosed, but it is acquiring the 93% of TMF that Wegener owns.
The deal is MTV's first international acquisition.
TMF and MTV Europe's feed for Holland, MTV NL, will remain separate brands, but will be joined on the operational level. TMF's 85 employees will be kept on.
Simon Guild, chief operating officer of MTVE, told Daily Variety the deal allowed MTVE to "leapfrog" some of the developments that had been planned for MTV NL.
MTVE has nine local feeds across Europe and reaches more than 90 million homes in 42 territories.
