Egmont takes overall control of TV2

Danish media company Egmont International has acquired the remaining 50% stake in Norwegian commercial broadcaster TV2.

The company already owns half of TV2 and has bought the 50% it does not own from A-pressen for NOK2.1 billion (€275 million). This is part of Egmont’s strategy to move further into the television business; the publishing company already owns production company Nordisk Film.

Egmont CEO Steffen Kragh said: “As co-founder and part-owner through more than 20 years, Egmont has always been concerned with the long-term development of TV2. As TV is a key element in our strategy, it was an obvious choice for us to purchase. Today, Egmont makes a significant strategic leap towards more TV and more live pictures in our business.”

A-pressen CEO Thor Gjermund Eriksen said: ”As we now sell our part of TV2, we are content to sell to a company that has a comprehensive knowledge of TV2, and that has shown over the years that they are a solid and long-term co-owner, who respects editorial freedom and publicistic principles.”