Department stores, newspapers, hotels, airline companies and now also film production. Each day has its own Icelandic acquisition story, now it has come to the commercials.

European Film Group (EFG) which in spite of its name only has production companies in Denmark, Norway, Sweden and Finland has been sold for DKK 20 million to the Icelandic companies 365 and Baugur Group which are behind Dagsbrun Media Fond, owning Nyhedsavisen.

The production companies in EFG – among others Moland Film, BSL, Clubviral and Welcome Postproduction in Denmark – was previously owned by Metronome Film and Television, but is now merged with the 365 companies Saga Film in Iceland and 2AM in Great Britain and consequently creating Europe’s largest commercial film network with a turnover of DKK 350 million. The name of the entire network will be European Film Group.

“Negotiations with Metronome have run for more than one year so I am looking forward to starting and time will show whether we have made a good choice,” states Ragnar Agnarsson according to Børsen Business Daily, noting that the new company is no better than the people behind it. One of the persons from whom Ragnar Agnarsson expects great results is Danish Christian Bévort, the general manager in the present Nordic organisation. He is to continue as such and at the same time enter into the new group’s executive board.