Telenor Takes C More Stake

STOCKHOLM: Norwegian-based telco Telenor Group has become TV4 Group’s partner in C More Entertainment, picking up a 35-percent stake in the Nordic premium channel operator.

C More Entertainment operates a suite of 14 premium film, series and sports channels under the Canal+ brand in Sweden, Denmark, Finland and Norway, as well as PPV and VOD services. It has been owned by Sweden’s TV4 Group since 2008, after previously being held by SBS Broadcasting/ProSiebenSat.1.

Telenor will acquire the 35-percent stake for SEK 787 million ($103.2 million). In addition certain sports rights owned by Telenor, for example SAS Ligaen and FIFA World Cup 2010 in Denmark, has been sublicensed to C More Entertainment. At statement from the two companies notes that the co-ownership agreement "opens the door for new media and telecom ventures and business opportunities, with each party offering both knowledge and creativity."