Telenor's Canal Digital to Merge With NENT Group's Viasat Consumer
October 22 2019 - 2:00PM
Dow Jones News
By Adria Calatayud
Telenor ASA (TEL.OS) and Nordic Entertainment Group AB
(NENT-B.SK) said Tuesday they will launch a Nordic TV distribution
joint venture combining Telenor's Canal Digital and NENT's Viasat
Consumer units.
Norwegian telecommunications company Telenor and Swedish
entertainment company NENT will each hold 50% in the new company,
they said. The deal will create a Nordic player with combined net
sales of around 7 billion Norwegian kroner ($766.0 million) and 1.3
million subscribers, Telenor said.
Telenor said it expects the combination to yield annual cost
savings of NOK600 million with full effect from 2022, and
integration and other related costs of NOK830 million.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
October 22, 2019 13:45 ET (17:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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