Danish media group Egmont has become the sole owner of Norwegian commercial broadcaster TV 2, Egmont and Norwegian media group A-pressen said, Norway Post reported. Egmont bought A-pressen's 50% stake in TV 2 for 2.1 billion Norwegian crowns ($348 million) in cash, the groups said in a joint statement. Egmont said that through acquiring TV 2, it makes a strategic leap towards more TV in its business. ”As TV is a key element in our strategy, it was an obvious choice for us to purchase.
Today, Egmont makes a significant strategic leap towards more TV and more live pictures in our business. TV 2 is now a wholly-owned subsidiary of Egmont,” said Steffen Kragh, CEO of Egmont.
In 2010 TV 2 had the most profitable annual result so far, and the goal is to continue the positive development for TV 2The acquisition does not in itself cause changes for TV 2.
”Egmont guarantees that TV 2 still is an independent media house with a local Norwegian profile and that TV 2 continues to build good and close relations to the Norwegian people,” said Steffen Kragh.