Danish telecoms operator TDC has agreed to buy Modern Times Group’s broadcasting and entertainment business.
The cash and share deal, which values the acquired business at 19.55 billion Swedish crowns, would leave TDC with close to three million TV subscribers and access to ten million households in the Nordic region.
MTG Nordics includes broadcasting, streaming and distribution businesses in Sweden, Denmark, Norway and Finland, including both free-to-air and pay-TV. It also includes Viasat TV and the Viaplay digital streaming services.
The new TDC will offer what it called “an attractive integrated customer offering” of fixed and mobile telephony, broadband internet, and TV in Denmark and Norway.
David Chance, chairman of MTG, said: “This combination creates a first of its kind attractive new proposition for both consumers and shareholders in the Nordic region. We are creating the first fully convergent media and communications provider in Europe.
“MTG will then focus entirely on building out and adding to our global eSports, online gaming and digital video content operations. The regulatory review of the combination is expected to conclude in the second half of the year, so it is business as usual for now.”