Telia Company, the Swedish telco, has acquired Bonnier Broadcasting, including its brands TV4, C More and Finnish MTV, from Bonnier AB for $1 billion on a cash and debt free basis.
The acquisition will combine Telia’s mobile and fixed network with one of the most successful commercial media-houses in the Nordics.
“It is a very important day for 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,” commented Johan Dennelind, President and CEO of Telia Company. “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.”
“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,” added Tomas Franzén, President and CEO of Bonnier AB.
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 intention is that Casten Almqvist, who is currently CEO of Bonnier Broadcasting, will become CEO of that business area.
The transaction is subject to regulatory approvals and is expected to be completed during the second half of 2019.