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M&A Activity • Jan 30, 2015

Schibsted ASA (SCH) - Schibsted accepts an offer from Project Panther Bidco to acquire Aspiro

Schibsted ASA (SCH) - Schibsted accepts an offer from Project Panther Bidco to acquire Aspiro

THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS RELEASED WITH THE SOLE

PURPOSE OF PROVIDING A SUMMARY OF SHIBSTED'S VIEW OF THE PUBLIC OFFER MADE BY

PANTHER TO ALL SHAREHOLDERS IN ASPIRO. FOR DETAILS REGARDING THE PUBLIC OFFER,

PLEASE REFER TO PANTHER'S PRESS RELEASE IN RELATION TO THE PUBLIC OFFER AND THE

STATEMENT MADE BY ASPIRO'S INDEPENDENT BID COMMITTEE ON 30 JANUARY 2015.

THIS PRESS RELEASE SHOULD NOT BE REGARDED AS AN OFFER TO BUY OR SELL ANY

SECURITIES AND MAY NOT, DIRECTLY OR INDIRECTLY, BE DISTRIBUTED OR MADE PUBLIC TO

OR WITHIN ANY COUNTRY WHERE SUCH DISTRIBUTION OR PUBLICATION WOULD REQUIRE ANY

DOCUMENTATION, FILING OR ANY OTHER MEASURES.

Project Panther Bidco Ltd ("Panther") has, on 30 January 2015, through a press

release, announced a public offer to acquire all the shares of Aspiro AB (the

"Company" or "Aspiro") for the price of SEK 1.05 for every share in Aspiro (the

"Offer"). The Offer values the equity of Aspiro at SEK 464 million, and will be

settled in cash. Schibsted ASA has, through its subsidiary Streaming Media AS

which Schibsted co-owns with Platekompaniet AS and Verdane Capital VIII,

unconditionally and irrevocably undertaken to accept the Offer.

The independent bid committee within the Board of Aspiro has unanimously

recommended to the shareholders of Aspiro to accept the offer. The Board members

of Aspiro Trond Berger, CFO of Schibsted ASA and chairman of the Board of

Aspiro, and Rolf Presthus have not participated in the Offer or any resolutions

relating to the Offer in order to avoid any conflicts of interest.

For further details regarding the offer, please refer to the press release from

Panther and statement from the independent bid committee within the Board of

Aspiro.

"Schibsted and Streaming Media have been active owners of Aspiro for 3 years,

and there has been significant progress made by Aspiro during this period.

Schibsted believes there is a lot of potential for further growth of the

Company. However, Aspiro needs substantial expansion capital and a strong and

dedicated owner to be able to grow and compete on the global music streaming

market. For Schibsted, Aspiro is not regarded as a core activity, and we wish to

allocate our financial resources to Schibsted's core operations.  Panther, which

is controlled by S. Carter Enterprises, LLC, has adequate financial resources

and a high level of competence in the music industry. Hence, I think they will

be a better owner to lift Aspiro and its advanced music streaming service to a

new level," Trond Berger, CFO of Schibsted ASA, says.

Schibsted owns approximately 75% of the shares in Streaming Media AS, which owns

approximately 76% of the shares in Aspiro.

Contact person:

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

Oslo, 30 January 2015

SCHIBSTED ASA

Jo Christian Steigedal

VP Investor Relations

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1890577]