Boxer acquires PlusTV
By Julian Clover | June 5, 2009
Teracom-owned DTT platform Boxer has acquired a majority stake in its Finnish counterpart PlusTV. The existing shareholders Baker Capital and IT Provider Funds will remain minority shareholders.
“Plus TV has established itself as a leading Finnish pay-TV operator and has great continued potential. We count on developing synergies between our businesses in Sweden, Denmark and Finland and to make use of best practices on all markets.
With their combined strengths, all our companies will be strong players in increasingly competitive markets,” says Per Norman, CEO of Boxer. “The acquisition of the majority ownership of PlusTV is a great step towards creating a pan Nordic media group focused on terrestrial networks and pay TV services,” added Crister Fritzson, CEO of Teracom Group.
Launched in November 2006, PlusTV had signed up 281,000 subscribers by the end of 2008, representing approximately a quarter of Finland’s now all digital terrestrial market. The line-up comprises a mix of local and international channels, including MTV3 Max, the rights holder of Formula 1 in Finland.
Boxer has a subscriber base of 680,000 in Sweden and neighbouring Denmark, where operations began in February. However, plans to gain a foothold outside of the Nordic region failed in April when the company withdrew its successful bid to run Ireland’s pay DTT operations, citing differences with RTÉ Networks.