OSLO, NORWAY: Polaris Media ASA has signed an agreement to sell its 9.99% stake in Finn.no AS to Schibsted ASA. Polaris Media has been a minority owner in FINN since its incorporation in 2000. The total transaction value in the agreement is NOK 2.5 billion on an equity basis. Schibsted will settle the transaction by…
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Schibsted ASA to split into two companies, Tinius Trust to take over media business
OSLO, NORWAY: Schibsted ASA, the Norwegian media and online classifieds giant, has announced a major restructuring plan that will see its news media operations spun off into a separate company controlled by the Tinius Trust, the main shareholder of Schibsted. The trust, which was established by Schibsted heir Tinius Nagell-Erichsen in 1996 to safeguard the…