SBS Discovery Acquires Sweden’s TV11

STOCKHOLM: SBS Discovery Media has purchased the Swedish channel TV11 from the TV4 Group, with the takeover scheduled to be complete June 1.

The move, which still needs approval from the Swedish Broadcasting Authority, would give SBS Discovery Media a third free-to-air channel, in addition to Channel 5 and Channel 9.

Last fall, TV4 Group began a structural review of its channel portfolio and sports rights, in an effort to strengthen and develop its operations in the long term. As part of the review, a number of rights for football and ice hockey were sold during the fall and winter last year.

SBS Discovery Media was created earlier this year through Discovery’s completed acquisition of the SBS channels.

TV4 Group’s CEO, Casten Almqvist, said, “We have created substantial value in TV11 and, following detailed negotiations, we have now sold the channel. The transaction provides additional economic scope to further enhance investments in our own Swedish productions and in TV4 Play, two areas that we are prioritizing going forward.”