Through the pact, Schibsted Media said it intends to preserve and strengthen TV4 and MTV as ‘reliable and independent media providers.’

Sweden’s TV4 and Finland’s MTV are being sold in a deal worth SEK6.55B ($613M). The networks’ parent company, Telia, has entered into an agreement to sell its TV and media operations to Schibsted Media.

Norwegian media company Schibsted Media has struck a deal to buy TV4 in Sweden and Finland’s MTV from Swedish telecoms giant Telia Company. The deal has an enterprise value of 6.55bn Swedish krona ($615m or £487.7m) on a cash and debt-free basis, and is subject to regulatory approval.

Nordic media company Schibsted Media has agreed to acquire broadcasters TV4 in Sweden and MTV in Finland for SEK6.55bn (US$615m) in a deal with Swedish telecoms firm Telia Company.

Telia Company has entered into an agreement to sell its TV & Media business, including the TV4 and MTV brands in Sweden and Finland respectively, to Schibst