Telia Sells TV Unit for $614 Million to Schibsted Media (1)

Telia Company AB has agreed to sell its TV and media operations to Schibsted Media, as the Swedish phone carrier continues to focus on the core connectivity operations in the Nordics and Baltics.

The business, which includes the TV4 brand in Sweden and MTV brand in Finland, will be sold at an enterprise value of 6.55 billion kronor ($614 million) on a cash and debt-free basis, according to a statement on Tuesday.

The TV & Media unit has posted a full-year profit only once over the past six years it’s been part of Telia. The Stockholm-based company has been ...