During spring 2005 a group of real estate agents in Oslo and Akershus have negotiated price on real estate ads with Aftenposten AS. The parties did not agree upon price, and this group of agents have chosen to distribute real estate ads with a weekly free sheet as an alternative to Aftenposten with effect from May 20th, 2005. There will be no changes related to Finn.no as a distribution channel.
Aftenposten is continuously taking steps in order to be an attractive distribution channel and has adjusted its advertising prices in the newspaper for other brokers.
The turnover in Aftenposten will be reduced with approx. NOK 70 – 80 million on a yearly basis, while the effect in 2005 is expected to be approx. NOK 45 – 60 million.
Contact person:
Managing Director Olav Mugaas, Aftenposten, tel. +47 22 86 30 00
Oslo, April 18, 2005
Schibsted ASA
Trond Berger
CFO and Executive Vice President
CFO and Executive Vice President