Espen Huseby Buys Nordic World


LONDON/OSLO: Espen Huseby, the CEO of Nordic World, has completed a management buy-out of the company from TV 2 Norway.

Huseby will now become the sole owner and chairman of the distributor, which is home to a portfolio of 600-plus titles, spanning drama, factual, documentary and formats. He is currently in negotiations with several potential investors in the U.S. and the U.K. regarding future growth of the outfit. He is also recruiting a new board, which will be announced in the coming weeks.

Huseby said: “Nordic World has been at the center of my life—professional and personal—for the last eight years, so when TV 2 came to me with this proposal, I knew immediately it was too good an opportunity to miss. This is not only a fresh start for Nordic World, but a return to our corporate roots as a shop window to the world for the best Nordic content. The fact that several third parties are interested in playing a part in the Nordic World story shows what a strong proposition this is: it’s clear that we have a great team, a great catalog and the energy and vision to take Nordic World to the next level.”

The management buy-out, which is supported by private equity, follows on TV 2’s recent plans to divest itself of its non-core operations in order to cut costs by some €38 million over the next three years and refocus on its primary broadcast business.

Trond Håndlykken Kvernstrøm, director of channels and programming at TV 2, said: “In response to market dynamics, TV 2’s focus has changed over the past decade and owning a distribution company is no longer a primary activity. However, the export of content remains an important revenue stream, and Nordic World, with its first-look agreement with TV 2, is positioned to be an important player in generating this.”