Telia on Friday announced it has agreed to pay 890 million euros to acquire Bonnier Broadcasting, the parent company of Sweden’s TV4, Finnish MTV and C More.
The Stockholm, Sweden-headquartered mobile network operator states in a press release that the acquisition is of great strategic importance as it strengthens the company in the rapidly growing area of video content consumption and enables the company to combine its networks and their millions of users with one of the most successful commercial media houses in the Nordics.
“It is a very important day for Telia Company,” summarises Johan Dennelind, the CEO of Telia.
“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,” he adds.
Telia also stated it will establish a new business area that includes both its existing television business and the businesses making up Bonnier Broadcasting.
Bonnier Broadcasting is a subsidiary of Bonnier, a Swedish media group consisting of 175 companies in 15 countries. The broadcasting division employs 1,200 people, including roughly 250 in Finland. The acquisition is subject to regulatory approvals and is expected to be completed during the second half of 2019.
Aleksi Teivainen – HT
Photo: Emmi Korhonen – Lehtikuva