Published 2019-11-18

Polaris Media has signed final transaction agreements related to the establishment of the new media house group ‘Polaris Media South’

In September 2019, it was announced that Polaris Media, together with Agderposten Medier, will establish a new media house group in the southern region of Norway. The Schibsted media houses Fædrelandsvennen, Lindesnes Avis and Lister – as well as our distribution business in Vest-Agder – will be part of the new group. Polaris Media will have an ownership of 51% in the new constellation, while the owners of Agderposten Medier will control the remaining 49%.

Photo by Aw Creative on Unsplash

Today, on November 18, 2019, we can inform you that Polaris Media has signed final transaction agreements related to the establishment of the new media house group Polaris Media South.

The agreements have been signed between Polaris Media ASA, Agderposten Medier AS, Schibsted Norge AS and Schibsted Distribution.

After the transaction, Polaris Media ASA will become the parent company of Polaris Media South, and will consolidate Polaris Media South in its company financial statements. The transactions are expected to be completed on January 6, 2020, subject to approval by the Competition Authority.

The combined company is valued at NOK 373 million, of which Polaris Media’s investment represents 51% of the value, a total of ~ NOK 190 million.

For more information and details, see the Polaris stock exchange announcement here.