An article in today’s edition of the Norwegian business newspaper Dagens Næringsliv contains sensitive information on Media Norge. We would like to emphasize that the intentional agreement on the potential merger is still not signed.
In relation to the ongoing discussions regarding a potential merger between Aftenposten, FINN and the regional newspapers a preliminary valuation of the companies has been carried out. The valuation is done with the aim of establishing the relative values in a potential merger. The total value of Media Norge is estimated to NOK 8.1 million if Aftenposten, FINN, Bergens Tidende, Stavanger Aftenblad and Fædrelandsvennen are included. Potential synergies are not included in the estimate, which is not intended to be an indication of the potential market value of a new listed newspaper group.
Based on these estimates, Schibsted will get an ownership of 61.9 % in the new group. This is based on Schibsted receiving NOK 700 million in cash in addition to Media Norge shares.
CFO Trond Berger, tel.: +47 91 68 66 95
EVP Schibsted Norway Birger Magnus, tel.: +47 90 03 00 93
Oslo, September 20th, 2006