Nordic Business Report-October 25, 2006-Schibsted ASA divests holding in Norwegian commercial broadcaster TV 2 Gruppen
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The Norwegian media group Schibsted ASA announced on Tuesday (24 October) that it has agreed to sell its 33.37% holding in the broadcaster TV 2 Gruppen to its co-owners A-pressen AS and Egmont Holding AS.
The combined sales price for the 867,733 shares is NOK1,150m, which will result in an accounting gain of NOK940m for Schibsted.
TV 2 Gruppen is Norway's largest commercial broadcaster with a 30% market share and an annual turnover of NOK1,944m.
Schibsted, headquartered in Oslo, Norway, regards Norway and Sweden as its home markets, but has operations in a total of 20 countries. The group reported a turnover of NOK9.8bn in 2005. Schibsted is listed on the Oslo Stock Exchange under the ticker SCH.
One British pound (GBP) is worth approximately 12.48 Norwegian kroner (NOK).
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