Tinius Trust Takes Over Schibsted's News Media Business

Tinius Trust has acquired Schibsted's news media business, marking a significant milestone in the company's history.

The deal was finalized in 2022, and Tinius Trust has since taken over the operations of Schibsted's news media business.

Tinius Trust is now responsible for managing Schibsted's portfolio of news media assets, including newspapers, magazines, and online publications.

This acquisition has given Tinius Trust a strong foothold in the news media industry, with a wide range of publications under its umbrella.

For more insights, see: Advance Publications

Schibsted ASA has decided to sell its media operations to Tinius Trust.

The total transaction value is 6.2 billion Norwegian Kroner.

The consideration for the media operations includes 5.4 billion kroner for Schibsted's News Media business area and minority stakes in NTB, TT, and Lokalavisene, while the stake in Polaris is valued at 0.8 billion kroner.

The new media company will retain the Schibsted name and not be listed on the stock exchange.

It will be managed by an independent and professional board.

Tinius Trust has made a significant announcement regarding Schibsted, a Norwegian media group. Schibsted's current News Media business area, along with other media assets, will be carved out into a separate company called Schibsted Media.

This new company will be privately held by Tinius Trust, with a total transaction value of NOK 6.2 billion. The remaining businesses of Schibsted will remain as a publicly listed company, called Schibsted Marketplaces, on the Oslo Stock Exchange.

The transaction is expected to be completed in the first half of 2024, and will simplify Schibsted's overall structure and equity story.

Worth a look: Chase Pay over Draft Called

Stiftelsen Tinius has decided to appeal the court's decision in the case of mass surveillance.

The case involves a provision in the Intelligence Act that allows for "prearranged collection" of digital data, which the foundation believes undermines both source protection and freedom of expression.

Stiftelsen Tinius has chosen to appeal the Oslo District Court's ruling in the lawsuit over state surveillance.

Tilrettelagt innhenting, or prearranged collection, is a form of digital mass surveillance that the foundation sees as a threat to both source protection and freedom of expression.

The foundation is taking a stand against what it considers an overreach of state power in the name of national security.

See what others are reading: Currency Converter App Android Source Code Java

Schibsted's current News Media business area will be carved out into a separate company to be sold to a private trust.

The transaction involves the sale of Schibsted's ownership stakes in Polaris Media ASA and other media assets to the trust.

The total transaction value is NOK 6.2 billion.

The trust has agreed to support the removal of Schibsted's dual-class share structure by 2026.

The transaction is expected to simplify Schibsted's overall structure and equity story.

Schibsted intends to use the cash proceeds from the transaction to return capital to its shareholders.

The transaction is expected to close in the first half of 2024.

Schibsted's remaining businesses will remain as a publicly listed company on the Oslo Stock Exchange.

Here are the key business areas that will remain under Schibsted Marketplaces:

The Tinius Trust is a significant player in the media industry, and its recent agreement with Schibsted has far-reaching implications. The total transaction value in the Agreement is NOK 6.2 billion, consisting of various components.

The Trust has agreed to support the removal of Schibsted's dual-class share structure by 1 January 2026, pending completion of the transaction and subject to shareholder approval. This move is expected to simplify the overall structure and equity story of Schibsted.

The transaction involves the carving out of Schibsted's current News Media business area, the ownership stakes in Polaris Media ASA, and other media assets into a separate company, to be sold to and privately held by the Trust. This new entity will be named "Schibsted Media".

Schibsted's remaining businesses will remain as a publicly listed company on the Oslo Stock Exchange, consisting of the business areas Nordic Marketplaces, which includes Delivery, and Growth & Investments. This company will be named "Schibsted Marketplaces".

Here are the key aspects of the transaction: