Ericsson completed its move out of the media industries this week, if somewhat half-heartedly, selling 51% of its Media Solutions business to a private equity group and deciding after all that it was going to keep its Red Bee business – which is focused around broadcasters. No money was mentioned, but the business it has sold 51% of, to One Equity Partners, conducted just SEK 3 billion of business in 2017, which amounts to around $380 million. The likelihood is that it sold this half of the business for a small amount now, with performance related upside to buy the rest of the company – we would suggest about one times revenue now, which would mean $190 million up front,…