Business News

Schibsted ASA (SCH) – Media Norge ASA formally established

Thursday 25. June 2009 - Media Norge ASA will today be formally established as a company. The Group will consist of the media houses Aftenposten, Bergens Tidende, Fædrelandsvennen and Stavanger Aftenblad, in addition to Finn.no (88.3% owned by Media Norge).

The former shareholders of the mediahouses that Media Norge comprises will from now on be holding shares directly in the new company. The largest shareholder at the establishing of the company is Schibsted ASA, holding 80.2%. The original plans of an IPO of Media Norge have been postponed; however, an IPO will take place when the conditions are suitable, and no later than within seven years. Media Norge will be consolidated into Schibsteds books from Q3 2009 and onwards.