Egmont Takes Full Ownership of Norway’s TV 2

COPENHAGEN: Egmont has increased its ownership in TV 2 of Norway from 50 percent to 100 percent.

Egmont will pay 2.1 billion NOK ($350.1 million) for the remaining 50-percent share that was previously owned by A-pressen. Egmont, which co-founded TV 2 in 1991, now owns 100 percent of Norway’s largest commercial electronic media house.

"As co-founder and part-owner of TV 2 through more than 20 years, Egmont has always been concerned with the long-term development of TV 2. As TV is a key element in our strategy, it was an obvious choice for us to purchase," said Steffen Kragh, the CEO of Egmont. "Today, Egmont makes a significant strategic leap towards more TV and more live pictures in our business. TV 2 is now a wholly-owned subsidiary of Egmont."

Kragh continued: "We wish that TV 2 continues its focus on news, sports and entertainment. This is a natural consequence of the fact that…Norwegians choose TV2 as their media outlet for these types of content on TV and online every day. Egmont guarantees that TV 2 still is an independent media house with a local Norwegian profile and that TV 2 continues to build good and close relations to the Norwegian people."

Hans J. Carstensen, the chairman of the board at TV 2 and Egmont’s CFO, added: "TV 2 is not only a TV channel but a media house that brings content to numerous platforms. Egmont will—as always—support all the big focus areas and investments in TV 2. We are committed to local, Norwegian management. As owners, we are 100 percent behind TV 2’s agreement with the Norwegian state, which means that TV 2 is a public service media house with its head office in Bergen."

"As we now sell our part of TV 2, we are content to sell to a company, which has a comprehensive knowledge of TV 2, and which has shown over the years that they are a solid and long-term co-owner, who respects editorial freedom and publicistic principles," commented Thor Gjermund Eriksen, the CEO of A-pressen.