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M&A Activity • May 12, 2015

Schibsted ASA (SCH) - Schibsted Sverige and MittMedia sign letter of intent to plan a new media group for subscription newspapers

Schibsted ASA (SCH) - Schibsted Sverige and MittMedia sign letter of intent to plan a new media group for subscription newspapers

Schibsted Sverige and MittMedia have agreed to sign a letter of intent for

future cooperation in Sweden by forming a new media group for subscription

newspapers. The new media group will consist of Svenska Dagbladet and

Mittmedia's 18 local subscription newspapers in Northern Sweden, as well as a

majority share of MittMedia's subsidiary Promedia, which owns ten local

subscription newspapers in Mid Sweden.

The new media group would in 2014 have had pro forma revenues of around SEK

3,300 million and an EBITDA of around SEK 150 million. Based on relative

valuations Schibsted will have an ownership share of 30 percent in the new media

group. The parties have agreed that the new media group should start off with a

healthy balance sheet.

"Our intention is to build a new, strong alliance in the Swedish media market

whereby the newspapers involved can strengthen their position. Cooperation like

this should enable us to offer better advertising solutions, drive technology

and digital development, and create even better conditions for the quality

journalism that distinguishes Svenske Dagbladet," says Raoul Grünthal, CEO of

Schibsted Sverige.

MittMedia's board chair Lars Leijonborg sees advantages in combining the

companies into one group:

"Greater cooperation in the newspaper industry is imperative. We must become

even stronger online, and that requires resources. Schibsted is an ideal partner

for us, given its leading position in the digital transformation. If the

transaction comes off, it will offer exciting opportunities for cooperation

between our newspapers, with strong local and opinion journalism, and Svenske

Dagbladet, with its recognized national and international quality journalism,"

says Lars Leijonborg.

Contact person:

Raoul Grünthal, CEO Schibsted Sverige, Board Chair SvD,

Tel: +46 70-877 45 00

Trond Berger, CFO. Tel: +47 916 86 695

Oslo, 12 May 2015

SCHIBSTED ASA

Anders Christian Rønning

Investor Relations Officer

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1920883]