Note 4 Operations acquired during 2009

Acquisitions 2009              
The Group has acquired additional shares from minority holders during the year. Acquisitions of the remaining minority in MTG Russia AB have been made. In the Online business segment, part of the minority in Playahead AB and NLY Scandinavia AB were acquired and additional purchase prices were paid for Helsingin Dataclub OY.
Acquisitions 2008              
The Group's major acquisitions during 2008 were Nova Televizia, Bulgaria and Gymgrossisten, Sweden. The detailed purchase price allocations are found below.
Other acquisitions during the year comprise the 50% joint venture Viastrong Holding AB, owner of the Ukrainian companies entailing the DTH satellite pay-TV platform. The DTH platform was launched on 21 April 2008. The purchase price was SEK 44 million and gave rise to a goodwill of SEK 31 million. An acquisition was made of GENUS TV in the Czech Republic, a regional terrestrial broadcasting licence. Additional purchase prices were paid for ERA TV, the Macedonian channel within Balkan Media Group. The acquisitions are reported within the Free-TV Emerging Markets segment.
Additional purchase prices were paid for Playahead AB, NLY Scandinavia AB, and Helsingin Dataclub OY during 2008 in accordance with the acquisition agreements. These acquisitions are reported within the Online segment.
In addition, acquisitions of part of the minority in MTG Russia AB and payment of the acquisition of part of associated company Altlorenscheuerhof S.A. were made during 2008.
               
Summary of acquisitions              
  2009   2008
Group (SEK million) Net cash outflow Net identifiable assets and liabilities Goodwill   Net cash outflow Net identifiable assets and liabilities Goodwill
Gymgrossisten - - -   192 108 89
Nova Televizia, Bulgaria - - -   6,026 723 5,321
Additional consideration from previous years, paid out 23 - 7   184 13 52
Other acquisitions 122 - -   65 - -
Total 145 - 7   6,466 844 5,462
               
Acquired net assets at the acquisition date              
  2009   2008
Group (SEK million) Book value Fair value adjustment Total   Book value Fair value adjustment Total
Tangible assets         109   109
Intangible assets         79 700 780
Inventories         90   90
Trade and other receivables         109   109
Cash and cash equivalents         25   25
Deferred tax liability         0 -80 -80
Interest-bearing loans         -9   -9
Provisions         -1   -1
Trade and other payables         -179   -179
Net identifiable assets and liabilities - - -   223 621 844
               
Goodwill on acquisition     7       5,462
Purchase price     7       6,306
               
Additional consideration from previous years, paid out     16       29
Minority acquisition     122       155
Liquid funds in acquired companies     -       -25
Net cash flow     145       6,466
               
Gymgrossisten              
The Group declared an unconditional offer for Gymgrossisten Nordic AB on 23 January 2008. Gymgrossisten is a leading online supplier of nutritional supplements. MTG controlled 99.42% of the shares on 8 February 2008 and initiated a mandatory tender for the remaining issued and outstanding shares. As per 24 November, MTG was in control of 100% of the shares. The result is reported within the Online business area with effect from 1 February 2008. The total consideration was SEK 198 million including transaction costs of SEK 2 million.The acquisition gave rise to separately identified immaterial rights of SEK 55 million and goodwill of SEK 89 million.
The goodwill in 2008 comprise of strategic benefits, market position and synergy effects.
 
Net assets acquired (SEK million):         Book value Fair value adjustment Recognised values
Property, plant and equipment         5   5
Intangible assets         52 55 107
Inventories         26   26
Trade and other receivables         7   7
Cash and cash equivalents         7   7
Deferred tax receivables         1   1
Deferred tax liabilities         - -15 -15
Trade and other payables         -29   -29
Net identifiable assets and liabilities         68 40 108
               
Goodwill on acquisition             89
Total consideration             198
               
Liquid funds in acquired companies             -7
Net cash outflow             192
               
Nova Televizia, Bulgaria              
On 16 October 2008, the Group acquired 100% of the shares in Nova Televizia for a total cash consideration of EUR 620 million and transaction costs of EUR 4.5 million. The Nova commercial TV channel is the second largest free-TV channel in Bulgaria, and is broadcast under a national terrestrial free-TV license, as well as on cable and satellite networks. The acquisition gave rise to goodwill of SEK 5,321 million, and separately identified intangible assets of net SEK 581 million. Nova Televizia is reported within the Viasat Broadcasting business area with effect from 16 October 2008.
The 2008 goodwill comprises of strategic benefits, synergy effects and geographical presence.
Net assets acquired (SEK million):         Book value Fair value adjustment Recognised values
Property, plant and equipment         103   103
Broadcasting license         - 153 153
Trademarks         27 493 519
Intangible assets         0   0
Inventories         64   64
Trade and other receivables         88   88
Cash and cash equivalents         18   18
Interest-bearing loans and borrowings         -9   -9
Provisions         -1   -1
Deferred tax liabilities         - -65 -65
Trade and other payables         -148   -148
Net identifiable assets and liabilities         142 581 723
               
Goodwill on acquisition             5,321
Total cash consideration             6,044
               
Liquid funds in acquired companies             -18
Net cash outflow             6,026
               
               
Contributions during 2008 from the acquired companies by business area:
From the acquisition date (SEK million):         Viasat Broadcasting Online Group
Net sales         120 145 265
Operating income         -16 16 -1
Net profit         -20 7 -13
               
If the acquisition had occurred on 1 January (SEK million)         Viasat Broadcasting Online Group
Net sales         506 157 664
Operating income         74 20 94
Net profit         60 10 70
               
Acquisitions after the balance sheet date        
On 8 February 2010, the Group agreed to acquire 50% of the shares in Raduga Holdings S.A.. Raduga operates a Russian nationwide DTH satellite pay-TV platform, Raduga TV. The business is a joint venture with shared management control between the owners. Raduga will be proportionately consolidated, and reported within the Pay-TV Emerging Markets segment.
               
The work with the purchase price allocation in identifiable assets is in progress and remains to be finalised. The preliminary recorded fair values have not yet been calculated, information will be released in the quarterly report as per 31 March, 2010. The purchase price is USD 22.5 million.
               
On 22 February 2010, the Group signed an agreement to acquire a further 35% of Viastrong Holding AB. The acquisition is subject to approval by the relevant regulatory authorities, and could be closed during the second quarter of 2010.

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