The document reports that the entertainment group achieved net sales increases of 10% in Q2 2007 and 11% for the first half, with significant growth in different segments of its broadcasting operations. It highlights strategic objectives for reaching SEK 20 billion in net sales by 2011 while enhancing operational efficiency and expanding market share in the Nordic and Eastern European regions. Additionally, it notes acquisitions and the positive impact of subscriber growth in pay-TV services.

1. Maximizing the Power of Entertainment
Financial Results
Second Quarter And Six Months ended 30 June
2007

2. Results Highlights
Second Quarter 2007 First Six Months 2007
Group net sales up 10% to SEK 2,843 mn Group net sales up 11% to SEK 5,471 mn
Group operating income up 10% to SEK 532 mn Group operating income up 7% to SEK 1,001 mn
including SEK 110 mn of associated company including SEK 273 mn of associated company
income income
Viasat Broadcasting net sales up 9% to SEK 2,246 Viasat Broadcasting net sales up 10% to SEK
mn and operating profit up 1% to SEK 535 mn 4,250 mn and operating profit up 3% to SEK 1,016
mn
Net income up 4% to SEK 362 mn
Net income up 4% to SEK 678 mn
Basic earnings per share up 4% to SEK 4.95
Basic earnings per share up 4% to SEK 9.50
Sale of TV Shop to Guthy Renker for SEK 70 mn
in cash - net gain of SEK 17 mn Acquisition of 50% of Balkan Media Group
Limited for EUR 11.6 mn in February 07
Distribution of SEK 503 mn dividend & AGM
authorisation of up to 10% share buy-back Acquisition of 90% of Playahead online
community for SEK 102 mn in January 07
Consolidation of P4 Radio, BMGL, Playahead,
TV3 Slovenia & TV2 Sport joint venture for the Establishment of Sports channel joint venture
first time in the period with TV2 Denmark
2

3. Strategic Objectives
Set in June 2004
Objective On Track
Double Viasat Broadcasting revenues in 5 Viasat Broadcasting sales up 79% since
years 2003 on rolling 12 month basis
Viasat to become #1 commercial free-to-air Finalization of shut-down of Swedish
operator in Sweden and TV3 to become #2 analogue terrestrial network increases
penetration in Sweden; TV3 Norway
commercial free-to-air channel in Norway
established as second largest commercial
within 5 years channel in comparable universe
Export integrated model into new high Rolling 12 month operating income for C&E
growth territories - C&E European European operations (incl. CTC Media) of
businesses to generate same level of SEK 782 million vs. SEK 1,177 million for
broadcasting revenues & profits as Nordic operations
Scandinavian operations within 5 years
Rolling 12 month operating margins of 18%
>15% operating margins in 3 core for Free-to-air TV Scandinavia; 19% for
businesses - Free-to-air TV Scandinavia; Pay-TV Nordic; & 16% for C&E Europe
(excl. CTC Media)
Pay-TV Nordic; C&E Europe
3

4. Strategic Objectives
5 Year Goals announced in June 2007
MTG to report Group Net Sales of SEK 20 billion in 2011 (including selected
acquisitions) with >10% organic annual sales growth
Sales of SEK 10.1 billion in 2006
Current Viasat Broadcasting C&E Europe operations to generate net sales of SEK 5
billion in 2011
Net sales of SEK 1,841 million in 2006
>20% operating (EBIT) margin for Viasat Broadcasting (excl. CTC Media) by end of
2011
2006 operating (EBIT) margin of 19%
Current Viasat Broadcasting C&E Europe operations (incl. CTC Media) to generate
higher operating profit (EBIT) than rest of Viasat Broadcasting by 2011
C&E Europe = 38% of Viasat Broadcasting EBIT in 2006 (incl. CTC Media)
MTG to report 30% Return on Equity for 2007-2011 5 year period
28% Return on Equity in 2006
4

5. Viasat Broadcasting
Geographical Segmentation – Rolling 12 Months
Q2 2006 Q2 2007
19% Sales
24%
41%
36%
FTA Swe/No/Dk
Pay-TV Nordic
CEE
40%
40%
Q2 2006 Q2 2007
19% EBIT (Including CTC Media) 23%
27%
36%
FTA Swe/No/Dk
14% Pay-TV Nordic
CEE 16% 34%
CTC Media
31%
5

6. Viasat Broadcasting
Operating Results
Change Change
(SEK million) Q2 2007 Q2 2006 (%) H1 2007 H1 2006 (%) FY 2006
Net Sales
Free-to-air TV Scandinavia 819 810 1 1,532 1,533 0 3,038
Pay-TV Nordic 882 782 13 1,759 1,531 15 3,183
Central & Eastern Europe 606 533 14 1,083 920 18 1,841
JV, Other & Eliminations -60 -68 - -125 -123 - -257
Total Net Sales 2,246 2,057 9 4,250 3,861 10 7,805
Operating income (EBIT)
Free-to-air TV Scandinavia 169 163 4 279 303 -8 562
Operating Margin 21% 20% 18% 20% 18%
Pay-TV Nordic 160 140 14 308 265 16 597
Operating Margin 18% 18% 17% 17% 19%
Central & Eastern Europe 129 119 9 188 170 11 304
Operating Margin 21% 22% 17% 18% 17%
Associated Companies 108 105 3 270 243 11 432
JV, Other & Eliminations -31 3 - -29 6 - 19
Total EBIT 535 530 1 1,016 987 3 1,913
6

7. Free-to-air TV Scandinavia
Return to Growth & Higher Margins
Return to growth with net sales up 1% (2% when excluding currency effects) year on year to SEK
819 mn & increased operating margin of 21% (20%) in Q2 following strong performance by
Swedish operations
H1 stable sales of SEK 1,532 mn with operating margin of 18% (20%) reflect tough year on year
advertising market
TV3/TV6/TV8 Sweden penetration levels up to 79% / 79% / 48%
Total combined channel CSOV (15-49) in Sweden increased to 36.2% (31.4%)
Operating costs slightly up year on year to SEK 650 (647) mn in Q2 and SEK 1,253 (1,230) for H1
Programming cost increases of 1% and 3% for the periods well within previous guidance for
programming cost growth of <7% for 2007
OUTLOOK
Comps ease in H2 but low visibility in summer months
Full year programming cost guidance unchanged with expected acceleration in spending in H2
7

8. Free-to-air-TV Scandinavia
Commercial Share of Viewing (15-49)
40
TV3 & TV6 Sweden TV3 & 3+ Denmark TV3 & ZTV Norway
35
30
(%) 25
20
15
10
2003 2003 2004 2004 2005 2005 2006 2006 2007
Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1
8

9. Free-to-air-TV Sweden
Commercial Share of Viewing (15-49)
’Big 3’ channels, (indexed)
120
110
(%)100
90
80
Q2 2005 Q3 2005 Q4 2005 Q1 2006 Q2 2006 Q3 2006 Q4 2006 Q1 2007 Q2 2007
TV3 TV4 Kanal 5
Media House Development
50
45
40
(%)35
30
25
20
Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 2006 Q2 2006 Q3 2006 Q4 2006 Q1 2007 Q2 2007
Viasat SBS Broadcasting TV4
9

10. Free-to-air TV Scandinavia
Sales & Operating Performance – Rolling 12 Months
(SEK million)
3,500 Sales EBIT EBIT Margin 50%
45%
3,000
40%
2,500 35%
30%
2,000
25%
1,500
20%
1,000 15%
10%
500
5%
0 0%
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2004 2005 2005 2005 2005 2006 2006 2006 2006 2007 2007
10

11. Pay-TV Nordic
Premium Subscriber & ARPU Growth
(’000 subscribers) (SEK) (’000 subscribers)
800 200
3,700 180
700 160
600 140
3,500
120
500 100
3,300 80
400
60
300 3,100 40
200 20
2,900 0
100
05
05
06
06
06
06
07
07
0 2,700
20
20
20
20
20
20
20
20
3
4
1
2
3
4
1
2
Q2 2004 Q2 2005 Q2 2006 Q2 2007
Q
Q
Q
Q
Q
Q
Q
Q
Viasat+ & Multiroom Subscriptions
Premium Subscribers Annualized ARPU Viast Golf Subscriptions
12% year on year increase in premium subscriber base & addition of 5,000 new subscribers
in Q2 reflects almost complete analogue shut down in Sweden
174,000 Viasat+ and Multiroom subscriptions now represent 23% of premium DTH
subscriber base
ARPU up 4% year on year to SEK 3,502 reflecting price increases & PVR/Multiroom growth
11

12. Pay-TV Nordic
Stable Margins despite Increased Investments
(SEK million) Sales EBIT EBIT Margin
50%
800
40%
600
30%
400 20%
200 10%
0 0%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2004 2004 2004 2004 2005 2005 2005 2005 2006 2006 2006 2006 2007 2007
13% sales growth in Q2 and 15% in H1 following subscriber & ARPU growth
Stable SAC with operating margins of 18% in Q2 and 17% for H1 despite increased
sports programming costs, 15 new channels added to platform since beginning of 2006
& previously announced SEK 160 mn investments in new channels & technologies
OUTLOOK
Shift to ARPU growth vs. volume subscriber acquisition model
Margin guidance of >17% for 2007 unchanged
12

13. Central & Eastern Europe
Operating Performance – Rolling 12 Months (Excl. CTC media)
(SEK million)
Sales EBIT EBIT Margin 50%
2,000
40%
1,500
30%
1,000
20%
500 10%
0 0%
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2004 2005 2005 2005 2005 2006 2006 2006 2006 2007 2007
Net sales up 14% to SEK 606 mn in Q2 and 18% to SEK 1,083 mn for H1 following
strong growth in Russia & Hungary and for Pay-TV East operations
TV Prima net sales decline due to exceptional 2006 results + investments in newly
consolidated TV3 Slovenia & BMGL result in lower margins of 21% in Q2 & 17% for H1
OUTLOOK
Easing comps for Prima in H2 with performance dependent on ratings development
13

14. Free-to-air TV Eastern Europe
Commercial Share of Viewing
55
50
45
40
(%) 35
30
25
20
15
2003 2003 2003 2003 2004 2004 2004 2004 2005 2005 2005 2005 2006 2006 2006 2006 2007 2007
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
TV Prima Czech Republic (15+) TV3 & 3+ Estonia (15-49)
TV3, 3 & TV6 Latvia (15-49) TV3 & Tango TV Lithuania (15-49)
14

15. Free-to-air TV Eastern Europe
Commercial Share of Viewing
12
10
8
(%) 6
4
2
0
2003 2003 2003 2003 2004 2004 2004 2004 2005 2005 2005 2005 2006 2006 2006 2006 2007 2007
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Viasat3 Hungary (18-49) TV3 Slovenia (15-49) DTV Russia (6-54)
15

16. TV Prima
Czech Republic
17% decline in net sales to SEK 222 mn in Q2 and -9% to SEK 406 mn for H1 07
reflects tough year on year comps & inclusion of ‘barter’ agreements in 2006
Increased operating margins of 27% (25%) in Q2 and 22% (23%) for H1 reflect
discontinuation of ‘barters’ in 2007and SG&A savings from restructuring
In process of resolving disagreement with regional broadcasting license partner –
continued to restrict channel development in period
CSOV (15+) stable for three quarters, up for H1 07 to 21.8% (21.6%), but down
slightly to 21.9% (22.7%) in Q2 with ratings improvements at end of the quarter &
strong fall schedule line-up
Price increases secured for 2007 under annual ‘upfront’ contracts & Prima
continues to attract more advertisers than any other channel
16

17. DTV Russia
Rolling 12 Months
(SEK million) (SEK million)
3.0
250 60 CSOV (%)
Sales EBIT 50 2.5
200 40
2.0
30
150 20 1.5
100 10
0 1.0
50 -10
0.5
-20
0 -30 0.0
04
05
05
05
05
06
06
06
06
07
07
Q4 05
Q1 05
Q2 06
Q3 06
03
Q3 03
Q4 03
Q1 03
Q2 04
Q3 04
Q4 04
Q1 04
Q2 05
Q3 05
Q4 06
Q1 06
Q2 07
07
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q1
Q2
• Sales up 33% to SEK 67 mn in Q2 and 45% to SEK 129 mn for H1 07 following increase in
CSOV (6-54) to 2.5% & demonstrating ongoing benefit of Video International sales
agreement & increasing reach
• 1.1 million additional Moscow households connected through Mostelecom distribution
agreement & further 400,000 households to be connected
• Swing to SEK 6 mn profit in Q2 and SEK 12 mn for H1 07 & 9% margin for both periods
17

18. Free-to-air TV Baltics
Rolling 12 Months
(SEK million)
Sales EBIT Margin
500 60
450 50
400 40
350 30 (%)
300 20
250 10
200 0
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2004 2005 2005 2005 2005 2006 2006 2006 2006 2007 2007
14% sales growth to SEK 153 mn in Q2 and 11% to SEK 263 mn for H1 with 35% and
27% operating margins respectively
Pan-Baltic commercial share of viewing (15-49) up to 40.7% (36.6%) with improved
ratings in Latvia and Lithuania offsetting decline in Estonia
Niche channel TV6 launched in Latvia at the end of April and has already achieved
CSOV (15-49) of 1% after end of quarter
18

19. Pay-TV East
Continued Subscriber Growth
140 Premium DTH Subscribers Subscriptions
25
(thousands) (millions)
120
20
100
80 15
60
10
40
5
20
0 0
Q 003
Q 004
Q 004
Q 004
Q 004
Q 005
Q 005
Q 005
Q 005
Q 006
Q 006
Q 006
Q 006
Q 007
07
Q 04
Q 004
Q 04
Q 004
Q 005
Q 05
Q 005
Q 05
Q 006
Q 06
Q 006
Q 006
Q 07
07
20
2
2
2
2
2
2
2
2
2
2
2
2
2
2
20
20
20
20
20
20
20
2
2
2
2
2
2
2
4
1
2
3
4
1
2
3
4
1
2
3
4
1
2
Q
1
2
3
4
1
2
3
4
1
2
3
4
1
2
Q
> Doubling of Baltic DTH satellite subscriber base year on year to pass 100,000 mark
48% year on year increase in # of mini-pay subscriptions – 2.2 million added in Q2
alone – 8 channels in 20 countries now reach 9.8 million unique subscribers with new
deals signed in Russia & Croatia
19

20. Pay-TV East
Rolling 12 Months
(SEK million)
350 Sales EBIT EBIT Margin 25%
300 20%
250
200 15%
150 10%
100 5%
50
0%
0
-50 -5%
04
05
05
05
05
06
06
06
06
07
07
20
20
20
20
20
20
20
20
20
20
20
4
1
2
3
4
1
2
3
4
1
2
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Sales > doubled to SEK 108 (51) mn in Q2 and to SEK 191 (94) mn for H1
Substantial increase in operating income to SEK 8 (0) mn in Q2 and SEK 19 (1) mn for
H1 with operating margins of 7% and 10% for respective periods
Baltic DTH platform in investment phase
Balkan Media Group consolidated since 1 April 2007
20

21. Radio
Rolling 12 Months
(SEK million) (excl. associated companies)
700 50%
Sales EBIT EBIT Margin
600
40%
500
30%
400
300 20%
200
10%
100
0%
0
Q4 2004 Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 2006 Q2 2006 Q3 2006 Q4 2006 Q1 2007 Q2 2007
-100 -10%
> Doubling of net sales to SEK 200 mn in Q2 and SEK 350 mn for H1 including
consolidation of P4 Radio from 1 October 2006
> Doubling of subsidiary operating profits to SEK 41 mn in Q2 and SEK 48 mn in H1
with increased operating margins of 21% and 14%
MTG Radio Sweden sales growth of 17% in Q2 and 7% in H1
P4 local currency sales growth of 7% in Q2 and 8% in H1
21

22. Other Businesses
Online Modern Studios
Business segment comprises CDON.COM, Net sales of SEK 70 (117) mn in Q2 and
BET24, Playahead and MTG New Media SEK 190 (267) mn for H1 reflect lower TV
production levels and format sales by
Net sales of SEK 366 (368) mn in Q2 and Strix, less movie releases & DVD sales
SEK 779 (782) mn for H1 for Sonet + disposal of Bromberg in
Substantial improvement in operating December 2006 and discontinuation of
profitability to SEK 27 (-18) mn in Q2 and Engine in January 2007
SEK 41 (2) mn for H1
SEK -15 (3) mn operating loss in Q2 and
CDON.COM sales up 21% to SEK 172 mn SEK -13 (7) for H1
in Q2 and 25% to SEK 386 mn for H1
BET24 breakeven following focus on
markets where MTG has scale assets
TV Shop sold to Guthy Renker and
deconsolidated from 21 June 2007
22

23. All Business Areas
Operating Results
Change Change
(SEK million) Q2 2007 Q2 2006 (%) H1 2007 H1 2006 (%) FY 2006
Net Sales
Viasat Broadcasting 2,246 2,057 9 4,250 3,861 10 7,805
Radio 200 99 103 350 179 95 433
Other business areas 437 485 -10 969 1,049 -8 2,192
Eliminations -67 -96 - -148 -211 - -406
Parent company & other companies 27 32 - 50 60 - 111
Total Net Sales 2,843 2,577 10 5,471 4,939 11 10,136
Operating income (EBIT)
Viasat Broadcasting 535 530 1 1,016 987 3 1,913
Radio 43 22 89 49 30 61 78
Other Business Areas 12 -14 - 28 8 - -59
Parent company & other companies -58 -52 - -93 -88 - -155
Total EBIT 532 486 10 1,001 938 7 1,777
23

24. Summary Income Statement
(SEK million) Q2 2007 Q2 2006 H1 2007 H1 2006 FY 2006
Net Sales 2,843 2,577 5,471 4,939 10,136
Operating Income (EBIT) 532 486 1,001 938 1,777
Gain/loss from financial assets 0 0 0 2 244
Net interest and other financial items -1 13 -3 -2 -5
Income before tax 531 499 998 939 2,016
Tax -169 -150 -320 -285 -517
Net income for the period 362 348 678 653 1,499
Basic average number of shares
outstanding 67,065,495 66,479,130 67,055,823 66,428,352 66,591,869
Basic earnings per share (SEK) 4.95 4.78 9.50 9.16 21.57
24

25. Cash Flow
(SEK million) Q2 2007 Q2 2006 H1 2007 H1 2006 FY 2006
Cash flow from operations 307 350 586 587 1,372
Changes in working capital 211 19 -128 -74 -78
Net Cash Flow from Operations 518 369 458 513 1,294
Proceeds from sales of shares - 0 - 21 21
Proceeds from sales of shares of subsidiaries 70 - 70 - -
Investments in shares in subsidiaries & associates -1 86 -179 3 -645
Investments in other non-current assets -31 -179 -103 -209 -329
Other cash flow from investing activities - - - - 2
Cash flow from/to investing activities 39 -93 -212 -185 -950
Cash flow from/to financing activities -461 -868 -356 -870 -877
Net change in cash and cash equivalents for the period 95 -592 -110 -542 -533
SEK 70.3 mn received from sale of TV Shop in June 2007
SEK 179 mn invested in acquisition of Playahead & Balkan Media Group in Q1
Capital expenditure of SEK 31 (179) mn in Q2 and SEK 103 (209) mn in H1 primarily
reflect investments made in DTV distribution contracts in Russia in Q1 07
Distribution of SEK 503 mn dividend in May 2007
25

26. Balance Sheet
(SEK million) 30 Jun 2007 30 Jun 2006 31-Dec-06
Non-current assets 5,424 5,393 4,891
Current assets 4,638 4,144 4,314
Total assets 10,063 9,538 9,205
Shareholders' equity 5,337 5,776 5,105
Long-term liabilities 371 248 305
Current liabilities 4,355 3,514 3,796
Total equity & liabilities 10,063 9,538 9,205
Net cash position of SEK 108 (420) mn
SEK 3.7 billion of available liquid funds
SEK 9.6 billion surplus to book value for 39.6% shareholding in CTC Media
Net change in cash and cash equivalents of SEK 95 (-592) mn in Q2 and SEK -110 (-542) mn
for H1 despite payment of SEK 503 million dividend
26

27. 27