Metro divests in Korea

Metro International sold its share in the free Korean Metro newspaper to two of the other shareholders on December 29.

Metro had a share of 29.99 % in Metro Korea and sold these shares for €4.9 million.

Metro Seoul was launched in 2002, during the World Championship Football; a year later a Pusan edition was added. Total circulation in Korea is 700,000.

The paper started as a franchise but Metro International acquired a 5% share in 2004; in 2005 the share was extended to 29.99%. Metro Korea will now again continue as a Metro franchise.

2 Responses to “Metro divests in Korea”

  1. Besserwisser Says:

    700 000 should be readership according to Metro!

  2. Piet Bakker Says:

    Correct, last official number is 700,000 circulation (600,000 Seoul, 100,000 Pusan) and 721,000 readers. One explanation is that newspapers are not really shared and/or only Seoul readership is measured.