Sweden: Schibsted buys 35% of Metro Sweden
Posted by Kelley Vendeland on May 19, 2008 at 12:03 PM
Norwegian media group Schibsted has bought a 35% share of Metro International's Swedish edition for 350m Swedish kronor (€38m).
Schibsted's Aftonbladet paper will form a joint advertising venture with Metro Sweden. The new company will offer advertisers the chance to reach 4.2 million readers, reports The Guardian.
Schibsted, the publisher of Norway's biggest-circulation paper VG, said in a statement it would get two seats on the board of Metro Sweden. Aftonbladet will also close its freesheet Punkt SE immediately at a cost of 65 million kronor (€7m). Punkt SE, which had been posting losses, is only one of the many freesheets that are starting to see their revenues tail off.
Source: Guardian (here and here) through IFRA Executive News Service
Schibsted's Aftonbladet paper will form a joint advertising venture with Metro Sweden. The new company will offer advertisers the chance to reach 4.2 million readers, reports The Guardian.
Schibsted, the publisher of Norway's biggest-circulation paper VG, said in a statement it would get two seats on the board of Metro Sweden. Aftonbladet will also close its freesheet Punkt SE immediately at a cost of 65 million kronor (€7m). Punkt SE, which had been posting losses, is only one of the many freesheets that are starting to see their revenues tail off.
Source: Guardian (here and here) through IFRA Executive News Service
Posted in :
Related Entries
0 TrackBacks
Listed below are links to blogs that reference this entry: Sweden: Schibsted buys 35% of Metro Sweden.
TrackBack URL for this entry: http://www.editorsweblog.org/mt/mt-tb.cgi/6762
Leave a comment