Oslo-based Schibsted Media adds Nordic channels to growing media portfolio
Norwegian media company Schibsted Media has struck a deal to buy TV4 in Sweden and Finland’s MTV from Swedish telecoms giant Telia Company.
The deal has an enterprise value of 6.55bn Swedish krona ($615m or £487.7m) on a cash and debt-free basis, and is subject to regulatory approval.
The acquisition will bolster Schibsted’s media portfolio, which already includes newspapers Aftonbladet and Svenska Dagbladet, as well as news aggregator Omni and podcast brand Podme.
TV4 claims to be Sweden’s most popular TV channel in Sweden, measured by time spent and share of audience, and recently landed the debut international remake of Tuesday’s Child’s ITV returning competition format The Fortune Hotel.
Additionally, MTV is a regular buyer of international shows with recent pick-ups including an adaptation of Banijay Entertainment adventure format The Summit and UK crime drama The Gold
Schibsted, which took a 10% stake in Nordic streamer Viaplay in 2023, said the move was part of its strategy to operate a cadre of regional media brands.
“As competition in the media market intensifies, building complete and nationally rooted media positions with scale and investment capacity is more important than ever to safeguard editorial independence,” said Schibsted’s chief exec Siv Juvik Tveitnes.
“This agreement marks a significant step towards forming a leading Nordic media destination with strong independent brands.”
The chief exec said MTV’s “strong position” in Finland “fit perfectly with our ambitions, and we look forward to supporting MTV’s leading position within both news, sports, drama and entertainment into the future.”
The deal will see Telia and Schibsted looking “to explore complementary strengths and create positions together within personalisation, advertising, content rights and subscription models — attractive to users and advertisers alike.”
Telia will also continue to offer the channels to its subscribers via a multi-year distribution partnership.
The owner of Schibsted Media, The Tinius Trust, said it supported the deal.
“It is extremely important to further strengthen Schibsted Media’s portfolio, not least in the context of the pressure towards democracy and freedom of speech we are currently witnessing,” said Tinius Trust chief exec and Schibsted Media board chair Kjersti Løken Stavrum.
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