Schibsted Q3 results

Picture 1Although both 20 Minutes in France and 20 Minutos in Spain are the best-read newspapers in those countries, both papers suffered from the world-wide recession according to the 2009 Q3 report from publisher Schibsted.

In France operating revenue was €7.9m, which is 8% more than in Q3 2008. Operating losses were €2.2m (€2.7m in 2008).

In Spain 20 Minutos lost €1.8 in Q3 2009 (€3.1m in 2008). Recently Schibsted became a 100% owner of 20 Minutos after buying the remaining 20% from Grupo Zeta (El Periodico).

The operations in the Baltics (among other assets free newspaper 15min in Lithuania and 50% of Estonia’s Linnaleth) “are being heavily impacted by the weak macroeconomic climate in the region”. 15min went from 3 to 5 publication days. The Moi Rayon free weekly in Moscow was sold.

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