Adds quote, background in paragraphs 2-4
OSLO, Feb 25 (Reuters) - Sweden's Telia Company TELIA.ST said on Tuesday it has agreed to sell its TV & Media business to Schibsted Media at an enterprise value of 6.55 billion Swedish crowns ($614.99 million) on a cash and debt-free basis.
The transaction includes the TV4 and MTV brands in Sweden and Finland respectively, the Swedish telecoms group said in a statement.
"The agreement is in line with Telia's active portfolio management and focus on growth in its core connectivity business in the Nordic and Baltic regions," the company said.
Privately held Schibsted Media, previously a part of Schibsted ASA SCHA.OL, is the owner of major newspapers in Norway and Sweden, and is fully owned by Norwegian foundation Stiftelsen Tinius since 2024.
($1 = 10.6506 Swedish crowns)
(Reporting by Terje Solsvik, editing by Stine Jacobsen)
((terje.solsvik@thomsonreuters.com; +47 918 666 70;))
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