Telia Sells TV & Media Business to Schibsted for $600M to Refocus on Connectivity

Sweden's Telia Company has struck a deal to sell its TV & Media business to Schibsted Media for approximately SEK 6.55 billion (US$617 million). Under the agreement, Telia will relinquish control of its broadcasting and content unit to Schibsted, while securing multi-year distribution contracts for flagship channels such as TV4 and MTV to remain part of its consumer offerings.

Although Telia acquired Bonnier Broadcasting in mid-2018—including TV4, MTV, and the premium streaming brand C More—it has since shut down C More amid changing market dynamics. The current valuation marks a drop of roughly US$250 million from what it paid Bonnier, reflecting Telia's strategic reassessment.

The company has acknowledged that the media assets were underperforming relative to its connectivity business, especially in an era of declining traditional TV viewing and rising streaming competition. In its announcement, Telia's CEO Patrik Hofbauer emphasized that divesting this unit enables the company to "focus on what Telia does best – providing world-class connectivity on which millions rely daily."

The deal also includes a non-cash impairment of around SEK 2 billion, which will be booked in Q1. The media business will be classified as discontinued, with the transaction expected to close by the third quarter of the year. Telia has indicated it doesn't anticipate regulatory hurdles.

For Schibsted Media, the purchase offers an opportunity to deepen its presence in Nordic media, acquiring legacy TV brands with strong regional recognition. Under the deal, Schibsted receives ownership of the business, while still collaborating with Telia via content distribution deals—ensuring continuity for viewers and an ongoing revenue stream for the network.

This move by Telia is part of a broader trend in telecom and media convergence reverse-trend: operators rebalancing portfolios, exiting content businesses, and redirecting capital into core connectivity infrastructure. With this deal, Telia aims to pay down debt and reinforce its position in a competitive marketplace where network quality, 5G expansion, and broadband penetration are increasingly central to value creation.