Process of establishing Media Norge carries on

Schibsted ASA (SCH) , Published 26/09/2008 13:10:38

The process of establishing Media Norge carries on. The project board of Media Norge was today informed that Schibsted intends to continue the project along the main lines drawn up earlier. Based on the significant changes that have taken place in the financial- and advertising markets, certain financial adjustments of the original plan are being prepared.
A prolonged time horizon for listing and thereby sell down of Media Norge beyond 2009 is under preparation. In addition, a solution is sought with the other Media Norge parties, where Schibsted’s effective exposure to is larger than in the original plan of 45%. The process of reducing the stake in Polaris Media is continuing.
Contact persons:
CEO Kjell Aamot, tel: +47 916 86 690
EVP, Birger Magnus, tel: +47 23 10 66 80
Oslo, 26 September 2008
Jo Christian Steigedal
IR Officer