Swedish media group Bonnier has acquired Proventus 50% share in Nordic Broadcasting. The acquisition brings with it the entire share capital of the Finnish MTV Group and 98.9% of Swedish commercial network TV4.
Nordic Broadcasting becomes a wholly owned subsidiary of Bonnier with the company planning to take advantage of the synergies between the Swedish and Finnish commercial channels that have already co-operated on channels such as TV4 Fakta.
“We value the collaboration with Proventus, which has been a powerful force in the process of change that has taken place in recent years,” said Torsten Larsson, CEO of Nordic Broadcasting.
Daniel Sachs will remain Chairman of the Board of Nordic Broadcasting and Proventus will also continue to be represented on the boards of TV4 and MTV. Torsten Larsson, CEO of Nordic Broadcasting, will be Chairman of the Board of both MTV and TV4.
Proventus will continue its involvement in Nordic Broadcasting through a a mezzanine loan investment, which is part of Proventus’ Development Capital business area.
