VILNIUS (AFX) - Nordic publishing house Schibsted ASA has bought a 99.99 pct stake in the free Lithuanian daily paper 15min for an undisclosed sum, the BNS news service reported.
'High ambitions for growth in the Lithuanian market and Schibsted's experience make the acquisition of 15min a natural step for our company,' Schibsted Baltics CEO Mart Kadastik said in a statement.
Launched on Sept 1 last year, 15min is published five days a week and is distributed in Vilnius and the second-biggest city of Kaunas. The newspaper has a circulation of 85,000.
In Lithuania, Schibsted already holds a 67 pct stake in the magazine publishing group Zurnalu Leidybine Grupe, and a 51 pct stake in the LT newspaper. newsdesk@afxnews.com jsa COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
'High ambitions for growth in the Lithuanian market and Schibsted's experience make the acquisition of 15min a natural step for our company,' Schibsted Baltics CEO Mart Kadastik said in a statement.
Launched on Sept 1 last year, 15min is published five days a week and is distributed in Vilnius and the second-biggest city of Kaunas. The newspaper has a circulation of 85,000.
In Lithuania, Schibsted already holds a 67 pct stake in the magazine publishing group Zurnalu Leidybine Grupe, and a 51 pct stake in the LT newspaper. newsdesk@afxnews.com jsa COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited