Norway’s Schibsted media group has sold its 29.4 percent stake in TV4 to Nordic Broadcasting Oy, a Finnish-based company owned by Bonniers and the Proventus Industries AB fund. Nordic Broadcasting is also buying Catalyst Fund’s 2.3 percent holding in TV4.
Altogether Nordic Broadcasting, which also owns Finland’s MTV3, will hold 97 percent of TV4. The deal will have to be approved competition authorities.
Schibsted also recently announced it was selling all of its shares in the Norwegian TV2 group. Schibsted owns Sweden’s largest circulation newspaper, “Aftonbladet”, which recently started its own cable and satellite TV channel.