Schibsted has entered into an agreement with TV 2 AS whereby TV 2 AS will acquire Schibsteds remaining 8% ownership in TVNorge for NOK 42 million. With this sale Schibsted has sold its 29.3% ownership in TVNorge for a total of NOK 154 million. The shares where acquired for NOK 140 million.
Schibsted will record a gain of NOK 56 million in the 2. quarter of 1997 as a result of the sale of 29.3% of the shares in TVNorge. The gain reflects Schibsteds share of TVNorges loss from Feb. 1. 1996 and the continued indirect ownership in TVNorge through the ownership in TV 2.