Divestment of TV4 ownership

Schibsted ASA (SCH) , Published 06/11/2006 08:46:50

Schibsted has entered into an agreement with Nordic Broadcasting Oy concerning a sale of  5,388,368 shares in TV4 AB for SEK 270 per share, in total SEK 1,455 million. The shares are equivalent to 26.9% of the total share capital in the company. Based on the purchase price, the Enterprise Value for TV4 is SEK 5,200 milion. The accounting gain for Schibsted will be approx. NOK 550 million based on the current exchange rate.
Closing of the agreement is dependent on the approval of Swedish competition authorities.
Contact persons:
CFO Trond Berger, tel.: +47 91686695
EVP Corporate Publishing Affairs Jan Erik Knarbakk, tel.: +47 23106630 or mobile:
+47 90100019
Oslo, November 6th, 2006
Schibsted ASA