JP/Politiken buys 24.5% of Metro Denmark
Two days after the sale of 35% of the Swedish Metro, also Metro Denmark (MetroXpress) is partially sold to a competitor. JP/Politiken, publisher of free daily 24timer and paid papers Jyllands Posten and Politiken bought a stake of 24.5% in Metro Denmark.
Because also A-Pressen holds 24.5% of MetroXpress, Metro International is now majority shareholder with 51% of the shares.
The free papers will combine advertising and cooperate also with the paid papers of the group.
Distribution of 24timer will be taken over by Metro, indicating that 24timer will further decrease its expensive home-delivery model.
Both free papers together will reach 1 million readers between 14 and 49 according to the Metro press release. This seems to be a bit over the top. In 2007 both papers reached more than 500,000 each, but even with an overlap of only 16% (again according to the press release) 1 million in that target group seems rather ‘ambitious’, to say the least.
The cooperation, of course, is not very good news for both other free dailies in Denmark, particularly for Nyhedsavisen that is now the only paper without (paid) partners.