OSLO (Thomson Financial) - Norwegian newspaper and online news group Schibsted ASA said it agreed to sell its shareholding in Adresseavisen ASA as part of a deal with the media authorities that will allow the creation of the planned 'Media Norge' newspaper group.
Schibsted said the Independent Media Ownership Council today authorised the establishment of Media Norge.
As part of the conditions, Schibsted said it would sell its entire 34.3 pct shareholding in Adresseavisen.
In November Schibsted said as part of its concessions to form Media Norge it would reduce its stake in Adresseavisen to 30 pct and in Harstad Tidende to 40 pct.
In its latest statement Schibsted repeated it wold reduce ownership in Harstad to 40 pct.
It also said its shares in Stavanger Aftenblad would be converted to shares in Media Norge.
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