Aftenposten and VG will launch a new business news site, N24.no, on April 18th, 2006. In the short term, the goal for N24.no is to become Norway’s largest and most frequently updated internet site for business news. In the longer term, the ambition for the site is to become the largest player within business news in Norway, regardless of media platform.
Aftenposten Multimedia owns 60% and VG Multimedia owns 40% of the new company. Former news editor of VG, Hans-Christian Vadseth, will take up the position as editor-in-chief and CEO of N24.no. Editor-in-chief of Aftenposten, Hans Erik Matre, will take up the position as Chairman of The Board. In the beginning, N24.no will have 15 employees.
N24.no is expected to deliver an operating loss of less than NOK 10 million in 2006. In 2007 the company is expected to reach break-even.
Contact persons:
Hans-Christian Vadseth, telephone: +47 9155 9619
Hans Erik Matre, telephone: +47 9013 5423
Oslo, February 17th, 2006
SCHIBSTED ASA
Astrid Thommesen Sæbø
Investor Relations