The Norwegian Media Authority and Schibsted have reached an agreement, Published 09/11/2007 17:00:00

The Norwegian Media Authority and Schibsted have reached an agreement around Stavanger Aftenblad ASA:
 
The Norwegian Media Authority allows Schibsted’s acquisitions and agreements on acquisitions of shares in Stavanger Aftenblad ASA based on the following conditions:
 
  • Schibsted will reduce their ownership share in Adresseavisen ASA to 30%
  • Schibsted will reduce their ownership share in Harstad Tidende Gruppen to 40%
  • Schibsted will sell their shares in Adresseavisen ASA and Harstad Tidende Gruppen within a reasonable timeframe after a potential negative Media Norge decision in the appeal council
  • The Norwegian Media Authority will be informed throughout the sales process
 
This settlement will only come into force if the appeal council maintains the decision from the Norwegian Media Authority to prohibit the establishment of Media Norge ASA. If Media Norge ASA is established, Schibsted’s shares in Stavanger Aftenblad ASA will be converted to Media Norge shares and hence be a part of Schibsted’s ownership reduction down to 50,1% in Media Norge ASA.
 
 
Contact person:
 
Birger Magnus – mobile +47 90 03 00 93