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Latest Satellite News Discussion, Info ProSiebenSat.1 closes C More sale at General Satellite News forum; ProSiebenSat.1 closes C More sale German television group ProSiebenSat.1 has closed the sale of its Scandinavian pay-TV subsidiary C More ...

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Info ProSiebenSat.1 closes C More sale - 03-December-2008, 13:40

ProSiebenSat.1 closes C More sale

German television group ProSiebenSat.1 has closed the sale of its Scandinavian pay-TV subsidiary C More to Swedish commercial broadcaster TV4.

ProSiebenSat.1 agreed with TV4 in June on the takeover of C More and valued the company at 320 million. Although the exact amount paid was not revealed, proceeds of the sale will mainly be used to reduce the television groups debts of 3.7 billion. C More operates film and sports channels on pay-TV platforms via cable, satellite and ADSL in Denmark, Finland, Norway and Sweden, some in high definition.

ProSiebenSat.1 acquired the pay-TV broadcaster, which has around 1 million subscribers, in the process of taking over European TV operator SBS Broadcasting last year. TV4, the largest commercial TV operator in Sweden, is backed by the Bonnier Group, a family owned Swedish media concern.
   
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