North Media Follow

Company announcement no 03-19

27 February 2019

Over the last couple of years, North Media Aviser has adjusted its editions so as to now focus on Copenhagen and North-East Zealand. Furthermore, the frequency of weekly newspapers has been reduced to one weekly mid-week newspaper.

The potential for operating a profitable weekly newspaper business in Copenhagen and North-East Zealand is good. Copenhagen is Denmark’s absolute growth area and an attractive place for issuing weekly newspapers, and like other major provincial towns Elsinore provides a really fine basis for issuing both dailies and weeklies.

We are not in agreement on the strategy for North Media Aviser, and arrangements have been made today in this respect that Gorm Wesing Flyvholm will step down as Chief Executive Officer of North Media Aviser A/S and member of the Executive Board of North Media A/S.

”Gorm Wesing Flyvholm has put great efforts into North Media Aviser and we thank him for that. Steen Gede, who is member of the Board of Directors of North Media A/S and North Media Aviser A/S, has been temporarily appointed Chief Executive Officer until a new Chief Executive Officer is engaged”, says Chairman Mads Dahl Andersen.

This change in Management does not affect the Group’s earnings expectations. North Media A/S still expects revenue for 2019 to range between DKK 1,100 million and DKK 1,160 million and EBIT before special items to be between DKK 95 million and DKK 125 million.

For further information

Chairman of the Board of Directors Mads Dahl Andersen, mobile +45 20 42 09 85.

This information was distributed by GlobeNewswire https://www.globenewswire.com/