Swedish media concern becomes sole owner of Finnish MTV Group
The Finnish MTV Group has been completely bought out by the Swedish media group Bonnier. Bonnier had already owned half of Nordic Broadcasting, which owns all shares of the MTV Group, as well as 99 per cent of the shares of Sweden's TV4.
Bonnier is now buying the second half of the shares of the MTV Group, which includes the Finnish commercial television networks MTV3 and SubTV and the radio network Radio Nova, from the investment company Proventus.
Bonnier's other Finnish holdings include the book publisher Tammi, as well as a number of magazines.
The deal did not come as a complete surprise. Many in the field were waiting for Proventus to sell its shares. Ownership of the Swedish TV4 has undergone many shifts in recent times. Late last year the Norwegian media concern Schibsted gave up its holding in Nordic Broadcasting.
Proventus is continuing as the financier of Nordic Broadcasting, and its CEO Daniel Sachs will continue as the company's Chairman of the Board. The price of Thursday's transaction was not revealed.
The MTV Group was taken over by Swedish owners about two years ago, when the Finnish Alma Media sold its television and radio operations to Nordic Broadcasting. The company is now completely under the ownership of Bonnier, which is now the second-largest Nordic media company, right after SanomaWSOY.
Arrangements concerning TV4 have raised political passions in Sweden, with Social Democrats fearing the impact of the concentration of media ownership into few hands.
Previously in HS International Edition:
New MTV3 owner Bengt Braun a strong believer in Nordic TV cooperation
Nearly all shareholders back sale of MTV3 to Sweden (1.2.2005)
Alma Media wants to sell MTV3 to Swedes (25.1.2005)
Alma Media to sell MTV3 and Radio Nova to Swedish media group (24.1.2005)
Bid for Alma Media seen as prelude to shake-out in Nordic TV market (22.12.2004)
Bonnier Press Release:Bonnier acquires Nordic Broadcasting – Proventus remains active financier