Nordic Entertainment (NENT) Group is to be paid approximately $64M in damages from TV2 Denmark over an advertising exemption dispute, settling a case that has dragged on for more than 15 years.
The settlement of 600M Swedish krona, which Deadline has converted into dollars using a currency converter, exceeds NENT’s annual operating income for 2021.
The controversy pertains to TV2 Denmark’s use of a discount on TV advertising between 2001 and 2010.
The claim was filed by the Danish Competition Council based on a 2005 decision and ultimately found that TV2 had abused its dominant position in the Danish advertising market by offering annual discounts to its advertising customers. This was considered a violation of competition law rules and was upheld by the Danish Supreme Court in 2011, leading to NENT Group He did enough damage to suffer what he said.
According to NENT, who runs the streamer, this morning’s settlement was reached after “clarifications of several fundamental legal issues”. ViaplayTV channel and a production company.
Anders Jensen, President and CEO of NENT Group, said, “We are delighted to finally end this very long process that is financially positive for our company.”
“It also serves as a strong message about the importance of fair competition, and is therefore positive for the broader Danish market.”
The payment will be reported in NENT’s Q1 financial results late next month and comes as the group expands Viaplay to other regions with 60 planned originals to premiere this year, while it takes away the game rights.
Yesterday, NENT Group proposed a rebrand to Viaplay Group, which will be rolled out to shareholders in May as it focuses on streaming.