SWelcom, SanomaWSOY's electronic media division, bought the entire share capital of SportUp Finland Oy on 16 May 2007. SportUp Finland owns 49.9% of the shares of Suomen Urheilutelevisio Oy, of which SWelcom already owned 17.55%. The parties involved in the sales are private investors and the Finnish publishing company A-lehdet.
The acquisition was subject to the Finnish Government's approval of the continuation of the broadcasting licence of Suomen Urheilutelevisio Oy despite of the change in the ownership. This approval is now confirmed, and the entire share capital of SportUp Finland has been transferred to SWelcom's ownership on 3 August 2007. As a result of the sale Suomen Urheilutelevisio becomes part of SWelcom. Timo Hakala continues as CEO of Urheilutelevisio.
Suomen Urheilutelevisio practices commercial TV business under the names of Urheilukanava and the subscription channel URHEILU+KANAVA. The sports channels fit excellently to the TV portfolio of Nelonen Media, already including Nelonen and JIM.
SWelcom is the electronic media division of the SanomaWSOY Group.