Nordic Broadcasting acquires Schibsted’s shares in TV4
• Nordic Broadcasting acquires Schibsted’s and Trafalgar Catalyst Fund’s shares and the shares owned by Proventus and Bonnier – thus reaching 97 per cent. ownership in TV4
In connection with Schibsted’s decision to divest its ownership in TV4 AB (publ), Nordic Broadcasting Oy assumes an increased owner responsibility as owner in TV4 and continues its efforts to create a Nordic broadcasting structure.
– Since the creation of Nordic Broadcasting in January 2005, we have been clear about the values we have identified in the creation of a Nordic broadcasting structure. TV4 and MTV3 have developed well over the past two years. This strengthened Nordic structure improves the competitiveness of these two commercial quality TV-channels, says Daniel Sachs, chairman of Nordic Broadcasting and CEO of Proventus.
Nordic Broadcasting, of which Bonnier and Proventus each own half, will acquire the shares in TV4 which Schibsted has decided to divest. Schibsted’s ownership amounts to 5 388 368 shares in TV4 corresponding to approximately 26.9 per cent. of the shares and votes in TV4. The price is SEK 270 per share corresponding to approximately SEK 1 455 million. The acquisition is conditional upon approval by relevant competition authorities. In addition, Nordic Broadcasting has acquired the 450 120 shares in TV4 owned by Trafalgar Catalyst Fund at the same price per share.
Nordic Broadcasting already owns 4 684 315 shares in TV4 corresponding to 23.4 per cent. of the votes and shares. After the acquisition of Trafalgar Catalyst Fund’s shares, Nordic Broadcasting owns 5 134 435 shares in TV4 corresponding to 25.7 per cent. of the votes and shares. Bonnier & Bonnier AB (”Bonnier”), who owns 5 860 314 shares in TV4 corresponding to 29.3 per cent. of the votes and shares, and Proventus Industrier AB (”Proventus”), who owns 3 020 013 shares in TV4 corresponding to 15.1 per cent. of the votes and shares, intend to divest all their shares in TV4 to Nordic Broadcasting. This also requires approval by relevant competition authorities. After an acquisition of Schibsted’s, Bonnier’s and Proventus’ shares in TV4, Nordic Broadcasting would own 19 403 130 shares, corresponding to 97.0 per cent. of the votes and shares in TV4.
If the acquisition of Schibsted’s shares is consummated, Nordic Broadcasting will give remaining shareholders the possibility to divest their shares in TV4 at the same price per share as Schibsted.
Helsinki, 6 November, 2006
Nordic Broadcasting Oy
For further information, please contact:
Chairman, Nordic Broadcasting
Phone: +46 8 723 31 83
Vice Chairman, Nordic Broadcasting
Phone: +46 8 736 47 18