Stockholm  - Swedish TV4 Group said Monday it has bought pay- TV company C More Entertainment from Germany's ProsiebenSat. 1 Group.

The deal also includes premium pay-TV broadcaster Canal+ Television which has "exclusive feature film, series and sports broadcasting rights" in the Nordic region, TV4 said.

Worth 3 billion kronor (498 million dollars), the deal hinges on approval from competition authorities.

TV4 Group chief executive Jan Scherman said the group hoped to offer "stability" to Canal+ which has had many owners in recent years.

Chief executive Guillaume de Posch of Munich-based ProSiebenSat. 1 Group said in a statement that the group planned to "use the proceeds from the transaction primarily for debt reduction." (dpa)