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Swedish telco Telia acquires Bonnier’s TV business

Deal includes Sweden's TV4, streaming service C More, and Finnish MTV

Scandinavia’s largest telecom company Telia has announced it has acquired Bonnier Broadcasting.

The deal is said to be worth around $1 billion. Telia said it would pay 9.2 billion crowns ($1.03 billion) on a cash and debt free basis, with a potential additional amount of maximum 1 billion based on future operational revenue and EBITA performance.

Earlier this week Telia announced the acquisition of TDC’s Norwegian business in a $2.6 billion deal and had previously confirmed it was in talks with Bonnier to buy the business.

Bonnier Broadcasting includes brands such as Swedish TV4 and streaming service C More and Finnish MTV. Broadcast and streaming made up 30 percent of its 25.7 billion crowns in net sales during 2017.