Norways Telenor and commercial broadcaster TV4 have struck a deal whereby the former will acquire a 35% stake in Nordic pay-TV channels unit C More Entertainment through a share purchase and directed new share issue.
Telenor has paid a cash consideration of SEK787m (Â81.6m) for the stake. Certain sports rights owned by Telenor, such as SAS Ligaen and FIFA World Cup 2010 in Denmark, have been sublicensed to C More Entertainment. The deal means that Canal Plus pay-TV subscribers in the region will have long-term access to C More Entertainment content. Canal Plus aims to launch a number of new premium channels and also plans to acquire new sports rights including Spanish and Italian premier league football rights and NBA professional basketball.
TV4 and Telenor have collaborated closely since TV4 acquired C More Entertainment from SBS-Broadcasting.