Telia Buys Bonnier Broadcasting

Swedish telco Telia Company has acquired Bonnier Broadcasting, including TV4 and C More, for SEK 9.2 billion ($1 billion) on a cash and debt-free basis.

Bonnier Broadcasting consists of TV4, which spans a range of channels, TV4 Play and additional advertising-funded services, such as Fotbollskanalen and Köket; C More, which has a streaming service and a number of pay-TV channels; and Finnish MTV, which comprises both a free-TV offer as well as a pay-TV service.

With this acquisition, Telia Company will establish a new business area, where both Telia’s existing TV business and the Bonnier Broadcasting businesses will be included. The plan is for Casten Almqvist, who is currently CEO of Bonnier Broadcasting, to become CEO of that business area.

The purchase from the parent Bonnier company is subject to regulatory approvals and is expected to be completed during the second half of 2019.

“It is a very important day for Telia Company,” said Johan Dennelind, the president and CEO of Telia Company. “The acquisition is a natural next step to complement Telia Company’s core business, where our millions of customers give us a very strong position in the market. Together with TV4 we will serve customers and viewers in new ways and create new business opportunities. We have great respect for our new role as a media owner and have a clear view of how we will maintain the editorial integrity of the business going forward. I look forward to welcoming some of the most talented TV-content producers in the Nordics to Telia Company.”

Tomas Franzén, president and CEO of Bonnier, commented, “We are proud of what we have achieved with our businesses within Bonnier Broadcasting. Telia Company, with its leading mobile networks and technical capabilities, will be an excellent owner and develop these businesses further.”