Tinius Trust completed the acquisition of the news media business of Schibsted.

Tinius Trust, a media group, completed the acquisition of the news media business of Schibsted, a classifieds group. Financial terms were not disclosed. “We are very pleased to have reached this agreement with the Tinius Trust, paving the way for a new, exciting phase in Schibsted’s history. Our media operations will have even better opportunities to strengthen the position of Schibsted as a leading media destination in the Nordics, and to deliver on their important societal role. At the same time we enable our marketplaces to sharpen their focus and unlock their full potential. All in all, this is a transaction that we believe creates substantial value for our shareholders and many other stakeholders,” Rune Bjerke, Schibsted Deputy Chairman.