Nordic Media Saga Reaches its Conclusion

26 January 2005

The short but savage battle between Norsemen for control of prized Swedish commercial TV channel TV4 [WAMN: 05-Jan-05] has produced a victor.

Stockholm-based media group Bonnier has thwarted Norwegian rival Schibsted in its quest for Finnish company Alma Media's broadcasting unit which controls 23.4% of TV4.

Schibsted launched a hostile takeover bid for Alma, offering shareholders €705 million ($937m, £497m). The approach was rejected in favour of an offer from family firm Bonnier, which will own the TV channel under the auspices of a new company, Almanova, in partnership with private equity firm Proventus Industrier.

Alma says it will make around €320m profit from the deal.

Data sourced from Wall Street Journal Online; additional content by WARC staff