NIB finances Schibsted’s digital development

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The FINANCIAL — NIB and Norwegian Schibsted Media Group have signed a EUR 50 million loan.

The loan will contribute to financing the company’s digital transformation, according to NIB.

The media industry is in the midst of a massive restructuring from print to digital media and the process continues at full steam.

“Schibsted wants to be a leader in this evolution. We therefore invest significantly in technology, such as new global platforms for media houses, online markets and digital advertising,” says Rolv Erik Ryssdal, CEO of Schibsted.

The loan has a repayment period of ten years.

Schibsted Media Group has international operations in 29 countries and is based in Oslo, Norway. Its products include online classifieds, financial consumer transaction services and media houses. Schibsted employs more than 6,900 people.

 

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