Sweden’s Telia Company agreed to sell its TV & Media business, including the TV4 and MTV brands in Sweden and Finland respectively, to Norway’s Schibsted Media at an enterprise value of about $615 million on a cash and debt-free basis.
“The agreement is in line with Telia’s active portfolio management and focus on growth in its core connectivity business in the Nordic and Baltic regions,” said Telia.
“The transaction is anticipated to close in Q3 2025 at the latest, subject to customary regulatory approvals. Through a multi-year partnership, Telia will continue to distribute TV4 and MTV’s content as part of its consumer TV offering.”
Patrik Hofbauer, Telia Company President and CEO, said: “Our priority is to focus on what Telia does best – providing world-class connectivity on which millions of people rely every day – and this agreement clearly reflects that.
“We have an opportunity to secure a new home for TV & Media with a strategic long-term Nordic owner that can further develop the business while maintaining its editorial independence.
“Thanks to a multi-year distribution partnership, we will continue offering TV4 and MTV’s content as part of the attractive line-up that has helped make Telia’s TV customers the most satisfied in Sweden for nine of the past 10 years.”
Telia said proceeds from the transaction will be used for deleveraging.
Headquartered in Oslo and founded in 1839, Schibsted Media owns established news brands such as VG and Aftenposten in Norway, Aftonbladet and Svenska Dagbladet in Sweden, and additional Nordic media holdings.
Schibsted Media CEO Siv Juvik Tveitnes said: “Since Aftonbladet became part of Schibsted in 1996, we have been dedicated to Sweden, making this a truly historic day for us.
“As competition with global tech giants intensifies, building complete and nationally rooted media positions with scale and investment capacity is more important than ever to safeguard editorial independence. This agreement marks a significant step towards forming a leading Nordic media destination.”
The owner of Schibsted Media, The Tinius Trust, supported the transaction.
“It is extremely important to further strengthen Schibsted Media’s portfolio, not the least in the context of the pressure towards democracy and freedom of speech we are currently witnessing,” said Kjersti Løken Stavrum, Board Chair of Schibsted Media and CEO of the Tinus Trust.