Business Services Industry

Schibsted ASA acquires 35% of Metro Sweden

Nordic Business Report, May 19, 2008

Swedish-controlled international media group Metro International SA (OMX Stockholm:MTRO SDB A, MTRO SDB B) said on Monday (19 May) that the Norwegian media group Schibsted ASA (OSE: SCH) has acquired 35% in Metro Sweden for SEK350m.

The partnership in Metro Sweden is expected to involve potential joint advertising operations and strengthen the presence of both Metro and Schibsted in the Swedish market.

Initially, Metro and Aftonbladet, the Schibsted-owned daily newspaper, are to form a joint sales company which will provide advertisers with a platform to reach 4.2 million readers in Sweden.

Metro, Aftonbladet and Svenska Dagbladet, another Schibsted-owned title, will also jointly sell advertising in and around Stockholm,, the companies said.

Schibsted, headquartered in Oslo, Norway, is an international media group active within the newspaper, TV, film, online, mobile phone, book and magazine media. The company has 9,000 employees in 21 countries and reported a turnover of NOK13.6bn in 2007.

Metro International, headquartered in Luxembourg, publishes Metro, the world's largest international newspaper. Metro is published in over 150 major cities in 21 countries, and has some 20m daily readers. Metro International reported net sales of USD453m in 2007.

One British pound (GBP) is worth approximately 1.95 US dollars (USD). One British pound (GBP) is worth approximately 9.88 Norwegian kroner (NOK). One British pound (GBP) is worth approximately 11.74 Swedish kronor (SEK).

((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))