Icelandic Media Brands Could Be Sold in ISK 5.25bn Deal

2026-03-12 - 12:37

Telecommunications company Síminn is negotiating with media firm Sýn to acquire several Icelandic online and radio outlets. As reported by RÚV, the buy-out will include media companies such as Vísir, and the radio stations Bylgjan, Léttbylgjan, FM957 and X977. What's the Story? Proposed acquisition by Síminn of media outlets from Sýn including Vísir, Bylgjan, Léttbylgjan, FM957 and X977 Purchase price estimated at ISK 5.25 billion; combined annual revenue of the media operations about ISK 3 billion Transaction subject to due diligence, final agreement, board approvals and regulatory clearance Reykjavik skyline. Photo: Art Bicnick. Iceland Review. Proposed Media Deal The companies have signed an agreement outlining the main terms of the proposed transaction, according to announcements sent to the stock exchange. The potential acquisition also includes several digital platforms such as Já.is, Innherji, Bland.is and the podcast platform Tal. The purchase price is estimated at ISK 5.25 billion. The combined revenue of the media operations involved is expected to reach around ISK 3 billion annually. The transaction remains conditional on due diligence, agreement on a final purchase contract, approval from both companies’ boards and regulatory clearance. María Björk Einarsdóttir, chief executive of Síminn, said the proposed acquisition aligns with the company’s strategy to expand in the media and entertainment sector. “We have been in the media business with good success and these units fit very well with our operations. The company is in a new growth phase and this fits well with our vision.” According to Sýn, the potential sale forms part of a plan to simplify the company’s operations and strengthen its long-term business focus.