Reduced paper price for Schibsted in Norway

Schibsted ASA (SCH) , Published 16/12/2002 14:20:34

Norwegian Media Business’ Association (MBL) has on behalf of Norwegian newspapers negotiated a new paper price with Norske Skog for 2003. The new price is reduced due to currency effects of a strong Norwegian Krone (NOK) in 2002 and reduced market prices for newsprint.
For Schibsted this constitutes annual savings of approx. NOK 45-50 million before taxes with effect from January 1st 2003 including Schibsted’s share of result in the regional newspapers.
Negotiations regarding a new newsprint price in Sweden are under way and are expected to be completed within the end of the year.
Oslo, Desember 16th 2002
Trond Berger
Tel: +47 91 68 66 95