Danish telco TDC has agreed to take over multi-territory commercial and pay-television company Modern Times Group’s broadcasting and entertainment business in a deal worth SDK19.55bn (€2bn/$2.5bn).
Sweden-based MTG, a major sports broadcaster in the Nordic region, said that the deal would create Europe’s first fully-convergent media and communications provider.
The deal will allow TDC to offer a full package of fixed-line and mobile telephone services, as well as broadband, television and streaming services in Denmark and Norway.
MTG will continue to be listed on the Nasdaq Stockholm exchange as a digital entertainment company focused on esports, online gaming and digital video content.
MTG chief executive Jorgen Madsen Lindemann told the Reuters news agency that he believed the relevant competition authorities would approve the merger.
Earlier this week, MTG extended its rights deal with golf’s European Tour under an agreement that secures exclusive Nordic media rights to a host of the sport’s top properties.
The European Tour package includes the eight Rolex Series events on the Tour, the World Golf Championships and the Ryder Cup for the next six years.
The contract covers Denmark, Finland, Norway and Sweden until 2024, with content to be offered live on MTG’s Nordic video streaming service Viaplay and pay-television channel Viasat Golf.