Schibsted 2011 results
The combined French and Spanish editions of Schibsted’s free papers 20 Minutes/Minutos showed lower profits in 2011 than in 2010 according to the 2011 annual report of the Norwegian media house.
In France (50% owned) revenues were growing (from €52m to €61m) but the cost increaed because of the expanded distribution. Profit was €2.5m (€3.6m in 2010).
In Spain results were heavely affected by the economic situation, revenues dropped from €26 to €23m while the operation lost €3.6m in 2011.
The 20 minutes website is the third news website in France. The Spanish website is the third newssite in the Sapnish speaking world.