Telenor's Canal Digital to Merge With NENT Group's Viasat Consumer

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)

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