Schibsted to acquire TV4 and MTV from Telia Company for SEK6.55bn.

Schibsted, an international media group, agreed to acquire TV4 and MTV, a TV & media brands, from Telia Company, a Swedish telephone company, for SEK6.55bn ($616m). “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,” Patrik Hofbauer, President and CEO Telia Company.