Telia has purchased the company behind Sweden’s TV4, C More and the Finnish MTV.
The telco has purchased Bonnier AB for SEK 9.2 billion (€886.9m) creating a company that combines mobile and fixed networks with one of the most successful commercial media houses in the Nordic region.
“This is a very important day for Telia Company. The acquisition is a natural next step to complete Telia Company’s core business, where our millions of customers give us a very good position in the market. Together with TV4, we will offer customers and viewers completely new experiences and create new business opportunities,” said Johan He Lind, President and CEO of Telia Company. “We have great respect for our new role as media owners and will protect the business editorial independence ahead. I look forward to welcoming some of Scandinavia’s most skilled TV people to us.”
It’s the second major media transaction made by Telia this week. On Tuesday it acquired Get and TDC Norway for a combined enterprise value of NOK21 billion (€2.2 billion) on a cash and debt free basis.
The deal creates Telia Company, a new business area, where both Telia’s existing TV operations and the activities of Bonnier Broadcasting will be included.
Bonnier Broadcasting’s current CEO Casten Almqvist become president of the business area.
The transaction is subject to regulatory clearance.
