SBS Discovery Media, Discovery Communications’ recently formed Nordic division, is adding another channel to its umbrella, buying the TV4 Group-owned TV11 in Sweden.
This is the latest Scandinavian acquisition from Discovery Communications, following its complete takeover of SBS Nordic in April.
TV11, which was launched in January 2011, will join Kanal 5 and Kanal 9 in SBS Discovery’s line-up of Swedish channels, which also includes eight other Discovery networks, including Discovery Channel, TLC and Animal Planet. The takeover is expected to happen on June 1, pending approval from the Swedish Broadcasting Authority.
“The newly combined SBS Discovery Media is well positioned to continue its trajectory of growth and success in the Swedish and Nordic markets,” said Jonas Sjögren, CEO of Sweden for SBS Discovery Media, in a statement.
“We were the only Swedish TV house that increased its shares during 2012 and the first quarter of 2013 was our best first quarter in five years. The purchase of TV11 underscores our commitment to investing in the local market with the goal of deepening and broadening our portfolio of channels to drive value for viewers as well as our partners.”