Finland's media landscape saw an upheaval on Tuesday as Nordic media group Schibsted announced plans to acquire commercial broadcaster MTV from Telia.
Finland's broadcast media landscape is largely dominated by two major players: public broadcaster Yle and commercial broadcaster MTV.
The deal, valued at some 590 million euros, also includes Sweden’s TV4, with the transaction expected to be completed by the third quarter of this year.
Schibsted is one of the largest media groups in the Nordics, owning outlets such as Aftonbladet, Svenska Dagbladet, Omni, as well as the Podme podcast platform in Finland.
The media giant said it planned to maintain Finland's MTV and Sweden's TV4 as independent media outfits.
"MTV's strong position in the Finnish market and attractive brands fit perfectly with our ambitions, and we look forward to supporting MTV's leading position within both news, sports, drama and entertainment into the future," Schibsted Media's CEO, Siv Juvik Tveitnes, said in a release.
Swedish telecoms firm Telia previously acquired MTV and TV4's operations from Bonnier Broadcasting in 2019.
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