Telia sells TV & Media to Schibsted Media for $615 mln (updated)
25/02/2025 06:17
(Adds quote, background in paragraphs 2-4)
OSLO, Feb 25 (Reuters) - Sweden's Telia Company
TELIA.ST said on Tuesday it has agreed to sell its TV & Media
business to Schibsted Media at an enterprise value of 6.55
billion Swedish crowns ($614.99 million) on a cash and debt-free
basis.
The transaction includes the TV4 and MTV brands in Sweden
and Finland respectively, the Swedish telecoms group said in a
statement.
"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," the company said.
Privately held Schibsted Media, previously a part of
Schibsted ASA SCHA.OL , is the owner of major newspapers in
Norway and Sweden, and is fully owned by Norwegian foundation
Stiftelsen Tinius since 2024.
($1 = 10.6506 Swedish crowns)
(Reporting by Terje Solsvik, editing by Stine Jacobsen)
((terje.solsvik@thomsonreuters.com; +47 918 666 70;))