OSLO, Feb 25 (Reuters) - Sweden's Telia Company

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 ( SBSNF ), 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)