Metro majority owner in St. Petersburg

Metro International has acquired 58.5% of the shares and capital in the St. Petersburg Metro. In 2005 Metro closed a franchise deal with the free daily that started as a free weekly in 1997 and moved to daily distribution in 2004.

In Moscow the Metro edition is still operation as a franchise with a minority share of Metro International.

Metro also announced that the definitive agreements regarding the sale of its US operations to Seabay Media Holdings LLC has been reached. The transaction is expected to be definitive “on or before 3 June 2009″.

The press release also said that “the discussions with potential partners for a full or partial divestment of Metro International’s operations in Portugal and Italy are still ongoing.”

Metro also wants to sell and outsource the software development:

Metro International is also considering the divestment of its software development business unit. The potential divestment will consist of the IP (intellectual property) for all the internally developed advertising and production systems currently in use in Metro International’s operations. It will also include the development and management teams of the business unit. In the event of a divestment, Metro International will continue to use the software via a software license agreement.

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