Endemol Sheds Metronome Stake

OSLO, September 28: Schibsted, which is active in newspaper
publishing, online businesses and TV and film production, has taken full
control of Metronome Film & Television by acquiring Endemol’s 35-percent
stake in the Scandinavian production company for SEK 145 million ($22.4
million).

Based on the purchase price, the value of Metronome is SEK
414 million ($64 million). After the completion of this transaction, Schibsted
will own 100 percent of the shares in Metronome, the largest independent Nordic
TV-and-film-production company. It acquired Stockholm-Copenhagen in May, and
the remaining 50 percent of the partly owned subsidiary Friday TV in August. It
had revenues of SEK 1.1 billion ($170 million) and an operating profit of SEK
22 million ($3.4 million) in 2006.

“In a media landscape where the production of content is
increasingly important, Metronome will play a key strategic role for
Schibsted,” said Gunnar Strömblad, the executive VP of Schibsted in Sweden and
the chairman of the board of Metronome. “Our continued development in TV
production and live pictures is more easily managed in a fully-owned
subsidiary, and Metronome’s strong market positions are excellent platforms for
further growth. We also look forward to the continued cooperation with
Endemol.”