Schibsted Media is buying Telia Company’s TV and media businesses, including TV4 in Sweden, for SEK 6.55 billion ($617 million).
Telia is offloading its TV and media business, which also includes the MTV brands in Finland, to focus on its core connectivity business in the Nordic and Baltic regions. The transaction is anticipated to close in the third quarter. Telia will continue to distribute TV4 and MTV’s content as part of its consumer TV offering.
Oslo-based Schibsted Media owns news brands such as VG and Aftenposten in Norway, Aftonbladet and Svenska Dagbladet in Sweden and additional Nordic media holdings.
Patrik Hofbauer, Telia Company president and CEO, said, “Our priority is to focus on what Telia does best—providing world-class connectivity on which millions of people rely every day—and this agreement clearly reflects that. We have an opportunity to secure a new home for TV & Media with a strategic long-term Nordic owner that can further develop the business while maintaining its editorial independence. Thanks to a multiyear distribution partnership, we will continue offering TV4 and MTV’s content as part of the attractive lineup that has helped make Telia’s TV customers the most satisfied in Sweden for nine of the past ten years.”
Siv Juvik Tveitnes, Schibsted Media CEO, added, “Since Aftonbladet became part of Schibsted in 1996, we have been dedicated to Sweden, making this a truly historic day for us. As competition with global tech giants intensifies, building complete and nationally rooted media positions with scale and investment capacity is more important than ever to safeguard editorial independence. This agreement marks a significant step toward forming a leading Nordic media destination.”
