Publimetro acquires remaining 65% equity in SubTV
(Thomson Reuters ONE) -
Metro International S.A. ("Metro"), the international newspaper group, today
announced that its subsidiary Publimetro in Chile has acquired the remaining 65
percent of SubTV and that the change of ownership has been accepted by the
transportation authorities. Publimetro thereby controls 100 percent of SubTV and
the accounts will be consolidated from 1 October 2010. The acquired stake is
valued at ?4.7 million. The consolidation of SubTV is expected to have a total
positive EBIT impact of approximately ?1 million in 2011 with high EBIT growth
expectations.
SubTV has developed a successful television business exclusively delivering
news, entertainment and information to subway commuters in Santiago through
television screens in stations and trains. Every day 2.5 million trips are made
within the subway system. Presence in the subway permits Metro to offer its
clients a unique and attractive audience with relevant demographics.
Per Mikael Jensen, President and CEO of Metro International, commented:
"Broadcasting TV within the subway is our entrance to digital advertising. SubTV
have possibilities to expand into further cities in Chile as well as other Latam
countries in the future. This is a good example of Metro's strategy to grow by
brand extensions out of the print business."
Pablo Mazzei, EVP for Latin America Metro International added: "Since we first
acquired a stake in SubTV in 2008, the company has doubled its EBIT. We are
expecting growth to continue the coming five years. The improved results
illustrate the significant synergies between Publimetro's publishing business
and SubTV's television business in content production, sales and marketing. We
can provide clients with a portfolio of unique advertising solutions in
different channels, making Metro a strategic media partner for agencies and key
clients and top of mind in the market."
For further information, please visitwww.metro.lu, or contact:
Per Mikael Jensen, President and CEO Tel:
+46 8 120 570 00
Pablo Mazzei, EVP Latin America Tel:
+56 9 9 158 0700
Linda Fors, Head of Investor Relations Tel:
+46 704 15 95 30
***
ABOUT METRO INTERNATIONAL AND METRO
Metro is the largest international newspaper in the world. Metro is published
in over 100 major cities in 19 countries across Europe, North & South America
and Asia. Metro has a unique global reach - attracting a young, active, well-
educated Metropolitan audience of 17 million daily readers.
Metro International S.A. shares are listed on Nasdaq OMX Stockholm through
Swedish Depository Receipts of series A and series B under the symbols MTROA and
MTROB
[HUG#1452472]
Publimetro acquires remaining 65% equity in SubTV:
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Source: Metro International via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 18.10.2010 - 08:00 Uhr
Sprache: Deutsch
News-ID 45773
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