Schibsted ASA (SCH) - Strategic change and reorganization of Sandrew Metronome
(Thomson Reuters ONE) -
The Board of Directors of Sandrew Metronome has decided to prepare a strategic
change and reorganization of Sandrew Metronome. Sandrew Metronome is Schibsted's
Scandinavian operation within film distribution.
Reduced demand in the market and weak profitability over long time is the
background for Schibsted's decision to conduct cost reductions in Sandrew
Metronome. The measures may affect 20 full time positions in four Nordic
countries. Schibsted considers alternative solutions for Sandrew Metronome,
including a divestment of the operation or parts of it. Schibsted will not
continue as a long term owner of the company, as Sandrew Metronome is not a part
of the core activities of the Group. All existing productions and distribution
agreements will continue as usual.
Schibsted carried out impairment charges linked to Sandrew Metronome in Q4
2009, and for the Schibsted Group the reorganization of Sandrew Metronome will
have limited financial effect.
Contact persons:
Gunnar Strömblad, EVP in Schibsted and chairman of the board of directors of
Sandrew Metronome. Mobile: +46 70 525 21 04.
Trond Berger, EVP and CFO. Mobile: +47 916 86 695
Oslo, 26 March 2010
SCHIBSTED ASA
Jo Christian Steigedal
VP Investor Relations
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1397977]
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Datum: 26.03.2010 - 05:00 Uhr
Sprache: Deutsch
News-ID 1012006
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