The real estate brokers in Stockholm have during the autumn negotiated with the major newspapers concerning use of advertising channel for real estate advertising, and they have entered into a non-exclusive agreement with Metro.
Svenska Dagbladet currently has revenues in the order of SEK 100 mill from real estate advertising in the Stockholm area. The above mentioned agreement is non-exclusive, and market actions will be taken to compensate for the loss.
In addition, new cost reduction efforts will be initiated for the newspaper. The objective of Svenska Dagbladet is to reach break-even in operating profit for 2004. Further information on the efforts will be given in relation to the presentation of the annual accounts for 2003.
Oslo, 21 November 2003
SCHIBSTED ASA
SCHIBSTED ASA
Gisle Glück Evensen
Investor Relations