The TV4 Group and SBS Discovery Media announced they have concluded an agreement for the sale of TV11. As of June 1, the channel will move from the TV4 Group to SBS Discovery.
The agreement between the two companies is the result of a structural overhaul of the TV4 Groups portfolio of channels and sports rights. Begun in the fall, the changes are planned to help strengthen and develop the company's operations.
"We've created a lot of value in TV11 and after extensive negotiations, sold the channel," says Casten Almqvist, CEO for the TV4 Group. "The business gives us extra financial leeway to further increase our investments in Swedish productions as well as in TV4 Play, two areas that we are prioritizing right now."