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Nordic Canal Plus pay-TV channels sold to Swedish TV4

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German television group ProSiebenSat.1 sold its Nordic pay-television business C More, which includes the Canal Plus Sports channels, to Swedish commercial broadcaster TV4 for around €320 million.

“Free-to-air television is our core business. Therefore the sale of C More fits perfectly with our strategy,” said Patrick Tillieux, chief operating officer of ProSiebenSat.1.

Jan Scherman, CEO of TV4, explained: “For the first time we can now establish ourselves in the premium pay-TV market. This will also reduce our dependency on television advertising.”

The Canal Plus pay channels, carried on satellite and cable platforms in Denmark, Finland, Norway and Sweden, and on DTT platforms in Finland, Norway and Sweden, are one of the two major pay-television businesses in Scandinavia, the other being Modern Times Group’s Viasat channels.