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.