The Tinius Trust is the major share owner – holding 26 per cent of the shares – in Schibsted. The trust was established in 1996 by Tinius Nagell-Erichsen, the last active member of the founding Schibsted family. Through the trust, Tinius Nagell-Erichsen wanted to ensure that Schibsted remained a group characterized by independent journalism, credible and high quality services, combined with long-term, solid financial development.
Continuity in ownership strengthens Schibsted’s ability to have a long term approach to value creation – and to make bold and innovative strategic moves. The main task of the trust is to provide a framework for securing the values and principles that Tinius held as important; most prominently to be a guarantor for a free press. In his view, the work of a free press is the prerequisite for a functioning democracy, for securing human rights, freedom of speech and freedom of religion.
A core belief is that a thriving democracy depends on informed citizens – whether this information consists of news, opinions, or information and services to enable them to make better choices in their daily lives. To the trust, the values of human rights and democratic principles are equally important when it comes to the online marketplaces and services. This is particularly important when expanding into markets where such values are not held as high as in Scandinavia. The trust also has a close dialogue with Schibsted when it comes to corporate social responsibility through its position as Chair of the Board.
”Ownership must ensure freedom and independence of Schibsted’s media”
The trust’s long term ownership perspective and position as the main shareholder gives the trust the ability to influence the direction of Schibsted and support the executive management to uphold the values and purpose defined in the Group’s Articles of Association. With Schibsted’s digital transformation, the trust has embraced a holistic approach to the term media. This includes the classified marketplaces and other digital services in adjacent fields that represent business development and sustainable impact on society.
The Tinius Trust continues its work to ensure that Schibsted plays a vital role in a digital age by guaranteeing quality services, relevant information, and thereby empowering people as active, participating citizens and improving their everyday life.