No agreement between Schibsted and MittMedia over new media group



The letter of intent signed between Schibsted and MittMedia in May expires tomorrow, Thursday, and will not be renewed. The purpose of the letter of intent was to explore possibilities to form a corporate group between Mittmedia's newspapers and Svenska Dagbladet. 

"Creating a new media group is a complicated process. We've had good, constructive dialogue with Mittmedia, which we consider to be an exciting and interesting group. We still believe in the idea that closer cooperation would be good for the industry, but during the course of the negotiations we reached the conclusion that the conditions for this particular deal were not optimal right now," says Raoul Grünthal, CEO of Schibsted Sverige and Board Chair of SvD.

The parties have agreed to terminate the letter of intent. This means that no agreement between the partners will be signed by the end of this year.

"We've had good and fruitful discussions. Mittmedia's newspapers and Svenska Dagbladet both represent high-quality journalism, and I'm satisfied with the discussions we've had.  But I share the view that we're still significantly apart, so right now there's little point in renewing the letter of intent," says Lars Leijonborg, Board Chair of Mittmedia.

 

 

Published: 12/2/2015 8:09 AM
Last updated: 12/2/2015 9:05 AM