Aftonbladet gives away TV7

Schibsted ASA (SCH) , Published 24/10/2007 11:12:52

The board of directors of Aftonbladet has decided to give away the financial and operational responsibility for the newly started TV channel TV7 to the Swedish company C4 Partners AB. The financial implications of the agreement will enter into effect from 15 October and the operational implications will be valid from 23 October.
TV7 had as of 30 September 2007 an operating loss of SEK 71 million and the company incurred an operating loss of SEK 17 million in Q3. There will be restructuring charges of SEK 5 to 10 million in Q3 as a consequence of the take over.
Contact persons:
CFO, Trond Berger tel.: +47 91 68 66 95
Managing director of Aftonbladet, Carl Gyllfors tel.: +46 706 762 107
Oslo, 24 October, 2007
Schibsted ASA