Swedish-owned telcom Telia Company has acquired the Finnish television channel MTV as a part of its EUR 889 million acquisition of Bonnier Broadcasting. The deal also includes the Swedish television channels TV4 and C More as well as the Finnish production company Mediahub Helsinki Oy which produces MTV News.
According to Telia, the acquisition strengthens the company in the fast-growing area of video content consumption. Telia's TV-business currently serves about 1.8 million households. Last year Telia acquired exclusive television rights to the Finnish ice hockey league.
"The acquisition is a natural next step to complement Telia Company's core business, where our millions of customers give us a very strong position in the market. Together with TV4 we will serve customers and viewers in new ways and create new business opportunities," says Johan Dennelind, President and CEO of Telia Company.
MTV's CEO Jarkko Nordlund has described the acquisition as an excellent opportunity.
"We can develop our activities in a completely new way going forward. This is significant news for domestic consumers and the whole entertainment sector," said Nordlund on MTV's website.
Telia is committed to maintaining the editorial integrity of its new media operations.
"We have great respect for our new role as a media owner and have a clear view of how we will maintain the editorial integrity of the business going forward. I look forward to welcoming some of the most talented TV-content producers in the Nordics to Telia Company," says Dennelind.
Telia's business has grown significantly since it merged with the Finnish telecom company Sonera in 2002, and it is currently the fifth largest telecom operator in Europe.
"Advances in telecommunications, especially the 5G, enables new ways to merge the media and communication industries to offer innovative services. Finland's leading role in 5G offers an excellent environment for this merger to be successful," says Arto Pussinen, Head of Industry, ICT & Digitalization, Invest in Finland.