STOCKHOLM — Swedish media giant Bonnier has acquired Proventus’ 50% stake in Nordic Broadcasting, which owns the Finnish MTV Group and 98.9% of the shares in Swedish web TV4.
The deal makes Nordic a fully fledged subsidiary of Bonnier, which already held the other 50% stake in the broadcaster.
Proventus will continue to be financially involved with Nordic through a mezzanine loan investment.
“We are proud to have contributed to reinforcing both TV4’s and MTV’s competitive edge and profitability,” said Proventus CEO Daniel Sachs, who will remain chairman of the Nordic Broadcasting board. “As an active financial partner in Nordic Broadcasting, we will focus on continued internationalization and structural opportunities.”
Torsten Larsson, CEO of Nordic, said that the deal will enable TV4 and MTV to benefit from co-operation with other companies in the Bonnier group.
Financial terms of the deal remain confidential.