In a groundbreaking move, the Bonnier owned TV4 Group announced on Monday its acquisition from Germany?s ProSiebenSat of Canal Plus, the leading broadcaster in premium pay TV across the Nordic region through its exclusive feature film, series and sports broadcasting rights.
The deal was finalised through TV4’s purchase of Stockholm-based C More Entertainment for an estimated SEK 3 billion, putting an end to several months of speculations and bidding war with other top media companies including MTG and Telenor.

Jan Scherman, TV4 CEO said that this acquisition will for the first time, establish his company on the fast-growing premium pay TV market, which will contribute to reducing its dependence on advertising revenues. Torsten Larsson, TV4 Group's chairman of the board added: “C More's different sports and movie channels are a perfect complement to the TV4 Group with a broad offer based on quality. This will benefit both TV4 as well as C More's viewers in all countries, when C More now is getting a long-term industrial owner.”

TV4 group underlined that its goals is to offer stability to Canal Plus following a decade of change in ownership. The deal still has to be approved by Swedish antitrust regulators.

TV4 is one of three Swedish broadcasting partners in Nordisk Film & TV Fond with SVT and Kanal 5.