Sandrew Metronome AB, owned 50% by Schibsted, has entered into an agreement about a sale of their cinema operations to Triangelfilm AB and partners. The cinema operations consist of 22 cinemas with 89 screens in 15 cities, and had an operating loss (EBITA) of SEK 24 million in 2004. The agreed price is SEK 56 million, and takeover is May 2.
Sandrew Metronome AB is one of the leading rights managers and distributors of movies and DVDs in the Nordic market with operations in all the Nordic countries.
The sale will have no accounting effect for Schibsted.
For further information, please contact:
CEO Morten Kongrød, Sandrew Metronome AB, tel. +47 90 19 42 17 or
Vice President Svein Erik Tverli, Schibsted ASA, tel. +47 23 10 66 00
Oslo, April 5, 2005
Schibsted ASA
Trond Berger
CFO and Executive Vice President