The sale includes TV4 and MTV in Sweden and Finland. The sales amount is SEK 6.55 billion.
This is entirely in line with our strategy, to simplify the structure of Telia, says CEO Patrik Hofbauer.
It has been rumored for at least a year – that Telia would sell the TV division, which has not been a brilliant business. Telia bought TV4 in 2019 from Bonnier for a total of SEK 9.7 billion. In connection with the sale, the telecom operator is now making a write-down of the value of the TV and media division by SEK 2 billion.
Last year, further write-downs of SEK 900 million were made.
Important to find the right buyer
But this has still been important for us, says Hofbauer, pointing out that Telia's ownership of TV4 has given the telecom operator more and happier customers.
He points out that an agreement with Schibsted will also guarantee Telia's customers access to TV4's content in the future.
The turnaround of TV4 to profit has been achieved by cutting costs and focusing on more streaming revenue, according to Hofbauer. According to Hofbauer, it has been important to find the right buyer, "who wants to develop TV4", and that is Norwegian Schibsted.
According to Schibsted's CEO Siv Juvik Tveitnes, TV4 is today a company in good shape. No cost savings are currently planned, she claims.
We see a very good plan that they deliver on today. We will continue to support it, says Juvik Tveitnes to TT.
Owns major newspapers
Before the deal is finalized, it must be approved by several regulatory authorities in Sweden, Norway, and the EU.
Nothing indicates that it will not be approved, but it will take time. It should be finished no later than in the third quarter of this year, says Siv Juvik Tveitnes.
Schibsted owns, among other things, Svenska Dagbladet and Aftonbladet in Sweden. In Norway, Schibsted owns several newspapers.
Over time, we believe that there are valuable collaborations for TV4 and for our existing portfolio. When the transaction is approved, we will hold dialogues to see how everyone can collaborate, says Siv Juvik Tveitnes.
