Norwegian media corporation Schibsted has today entered into an agreement to acquire 15.1% of the shares in Swedish TV channel TV4. The shares are acquired for SEK 150.00 per share. After the acquisition, Schibsted’s ownership in TV4 will be 20.1%, which makes Schibsted the third largest shareholder in the company. Today’s acquisition values TV4 at SEK 3.0 billion.
TV4 has national coverage and is the leading Swedish commercial TV channel. The company consists of among other 3 niche channels, 16 local TV channels and the online department TV4 Interaktiv. TV4 had total operating revenues in 2003 of SEK 2.3 billion and just over 900 employees.
Schibsted has a strong position in the Swedish media market through its print and online activities; the leading evening paper Aftonbladet, the subscription-based morning paper Svenska Dagbladet, and online classified services Blocket and Bytbil. Furthermore Schibsted is well established within TV production in Sweden through its subsidiary Metronome Film & Television, and well known production brands like Meter, Meter Fakta and FilmLance. Nordic cinema operator and film and video distributor Sandrew Metronome, is a joint venture between Schibsted and Swedish foundation Anders Sandrews Stiftelse.
– TV channel ownership represents a natural extension to Schibsted’s current positions in Sweden. We have for some time expressed an interest to increase our exposure to TV channels. Today’s acquisition has strengthened Schibsted’s position within the Nordic TV market, says Schibsted CEO Kjell Aamot. Schibsted’s ambition is to contribute to a further strengthening of TV4’s unique position as a commercial public service channel in Sweden, Aamot says.
Contact persons:
Executive VP & CFO Trond Berger: Tel +47 23 10 66 95 / +47 91 68 66 95
Executive VP Jan Erik Knarbakk: Tel: +47 23 10 66 30 / +47 90 10 00 19
SCHIBSTED ASA
Apotekergaten 10,
Oslo – Norway
Tel.: +47 23 10 66 00