The European Commission (EC) green-lit Telia’s acquisition of Bonnier Broadcasting for SEK9.2 billion ($947 million), after the Swedish operator offered concessions to placate competition concerns.
In a statement, Telia said it will licence Bonnier Broadcasting’s free-to-air, basic channels and premium sports channels to TV distributors in Sweden and Finland; licence standalone OTT media services rights to other market players; fairly sell advertising space to rival operators, broadband providers and TV distributors; and licence the Liiga ice hockey channel package to Finnish distributors.
Telia offered the concessions two months ago, as it sought to assuage the EC’s concerns. The body opened an investigation into the deal earlier this year, which competition commissioner Margrethe Vestager said aimed to ensure the deal would not result in price rises and less TV channel choices for consumers.
The acquisition is expected to generate a run-rate of SEK600 million in 2022 with all 1,200 Bonnier Broadcasting employees across Sweden, Finland and Denmark to be integrated by 2021.