Sweden's telecom group Telia is in advanced negotiations to buy Swedish media group Bonnier’s broadcasting business for 10-12 billion crowns ($1.15-1.38 billion).
Telia, which hopes to complete an exit from its Eurasian businesses this year, previously said it is interested in acquisitions in its Nordic core markets.
Bonnier Broadcasting, which includes brands like TV4, streaming service C More and Finnish MTV, had sales of 7.5 billion Swedish crowns ($861.30 million) last year and an operating profit of 423 million crowns.
In a global wave reshaping the telecoms and media sectors, recent deals in the Nordics include Tele2’s bid for cable-TV firm Com Hem. Swedish media group MTG said in March it would split in two, demerging its Nordic TV business and listing it on the stock exchange, after a sale of the unit fell through.