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Norwegian media group Schibsted confirmed that as part of strategy change they are in discussions with Eesti Meedia leadership regarding sale of the company.
Schibsted confirms Eesti Meedia sales talks
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«As part of the continual strategic evolution of Schibsted, it is our duty to analyse if we are the best owners to all companies in our portfolio. We can confirm that, as a result of a change of strategy, we are discussing alternative solutions with the management (of Eesti Meedia – edit),» explained Schibsted via its communications director Anders Rikter.
Schibsted added that it has worked with the current management of Eesti Meedia for 15 years already and shares their vision and values regarding Eesti Meedia’s future.
As confirmed by Schibsted, the object of the talks is Eesti Meedia in its entirety, including Schibsted Baltics. Mr Rikter added that, should agreement be reached, an official announcement would follow; however, they will not be disclosing details of the negotiations during the process.
Schibsted denies backing off from journalism and focussing on advertisement business. «Journalistic newsroom and product development are a substantial part of Schibsted’s main strategy. We make big investments into digital competency and product development, in order to raise up world class digital portals. This, for us, is a very important priority,» said Mr Rikter.
The website of Schibsted, operating in 29 countries, states that the group’s strategy is developing various media channels. Two clear cut visions being to evolve into a leading media company in Norway, Sweden and internationally, while also becoming market leader in the rapidly developing Internet advertisement business.
Thus, Schibsted is indeed investing into advertisement media; even so, it is not evident in the official vision if this is being done at the expense of journalism.
Eesti Meedia CEO Mart Kadastik yesterday said that talks on buy-out from parent company were triggered by the Norwegians’ desire to prioritise on development of advertising media, backing out from or restructuring other areas.
PLC (AS) Eesti Meedia owns AS Postimees, AS SL Õhtuleht (50 per cent), AS Ajakirjade Kirjastus (50 per cent), AS Ühinenud Ajalehed (66 per cent), AS Kanal 2, AS Trio LSL, AS Kroonpress, AS Express Post (50 per cent), OÜ Meediasüsteemid, OÜ Soov Kirjastus, and OÜ Scanpix Baltics (49 per cent). Eesti Meedia is also involved in Latvia and Lithuania, via managing company AS Schibsted Baltics; the local subsidiaries being Žurnalu leidybos grupe, 15 minuciu and Plius in Lithuania, and TV NET in Latvia.