Danish media group Egmont increases its ownership from 50 to 100 % of Norway’s largest commercial electronic media house. The price is 2.1 billion NOK (274 million EUR).
Egmont says that through acquiring TV 2, it makes a strategic leap towards more TV in its business.
”As co-founder and part-owner of TV 2 through more than 20 years, Egmont has always been concerned with the long-term development of TV 2. 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. TV 2 is now a wholly-owned subsidiary of Egmont,” says Steffen Kragh, CEO of Egmont.
In 2010 TV 2 had the most profitable annual result so far, and the goal is to continue the positive development for TV 2The acquisition does not in itself cause changes for TV 2.
”We wish that TV 2 continues its focus on news, sports and entertainment. This is a natural consequence of the fact that 7 in Norwegians choose TV2 as their media outlet for these types of content on TV and online every day. Egmont guarantees that TV 2 still is an independent media house with a local Norwegian profile and that TV 2 continues to build good and close relations to the Norwegian people,” says Steffen Kragh.
Egmont is a leading media group in the Nordic region. Its media world spans magazines, books, films, cinemas, interactive games and TV. Egmont publishes media in more than 30 countries, has 6,500 employees and generates revenue amounting to EUR 1.4 billion.
Egmont encompasses Scandinavia’s largest film company, Norway’s largest magazine publisher, book publisher and commercial TV broadcaster as well as the largest children’s publishers in Scandinavia, Germany, Poland and Russia.
(NRK/Press release)
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