Nordic Entertainment and Telenor get green light for pay TV merger

The merger, first unveiled last year, will create a new joint venture company that is made up of NENT’s satellite/broadband TV operations and Canal Digital, Telenor’s satellite pay TV offer.
NENT and Telenor will each hold 50% of the shares of the new company, which is expected to create substantial synergies. The transaction is due to close on 5 May. The newly formed company will launch its name and corporate brand following closing and will be headquartered in Stockholm and Oslo. The companies said it would “operate at arm’s length basis from NENT Group and Telenor Group” and would offer “an open platform providing content from multiple providers.”