P4 is currently the largest national radio station in Norway overall in its target group 20-50, however it is constantly challenged by the public station P1 for this position. P4 was launched on 15 September 1993 as the only national commercial radio network in the country. The ten year license had been granted on 15 January 1993 after fierce competition.
The initiative to participate in the licence process came from within Kinnevik TV & Media, the division in Industriförvaltnings AB Kinnevik that in 1995 was renamed MTG and in 1997 became today’s MTG.
When broadcasting of P4 started Kinnevik was one of the founding shareholders.
P4 was successful and the company was listed on the stock exchange Oslo Børs.
When MTG was demerged from Kinnevik in 1997 a 33% share in P4 was included.
But after ten years of successful broadcasting P4’s license was not renewed in 2003. Instead the network got a P5 license, which provided P4 with 72% national coverage instead of the 93% it had.
Despite the set back, which was highly controversial in Norway, P4 remained the number one commercial radio network in the country.
In 2004 MTG increased its shareholding in P4 to 39.7%.
On 12 September 2006 MTG announced its intention to make a mandatory offer for the issued and outstanding shares in P4. After the close of trading on the Oslo Børs the day before MTG had acquired close to 10 million shares in P4 from a number of institutional and private shareholders and owned 68.8% of the company.
Later in the day on 12 September MTG announced it had acquired a further seven million shares in P4 Radio Hele Norge ASA. Its ownership was equivalent to 90.8% of the issued and outstanding share capital.
As at the close of trading on 29 September 2006, MTG owned 97.1% of the shares.
As of 26 December 2006, P4 was delisted from the Oslo Børs and MTG was the sole owner.