Gloomy outlook for Schibsted

Norwegian publisher Schibsted, majority owner of free dailies 20 Minutos in Spain and 20 Minutes in France issued a profit warning on January 30, particularly for Spain, a weak economic development is expected for 2009 and 2010. Also figures were disappointing for 2008:

20 Minutes Spain is significantly affected by the economic situation in the market. The operation experienced a decline in revenues of 31% in Q4 2008, compared with the same period in 2007.

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