BERTRANGE, Luxembourg, May 31, 2002 (PRIMEZONE) -- Metro International S.A., the international newspaper group, today announced that it has sold a licence to a group of independent Korean businessmen to launch a Metro newspaper edition in Seoul, South Korea's capital city.
Metro International is not investing financially in the new newspaper but has provided its expertise to the group that has started the newspaper, in the form of consultation on the successful implementation of the Metro concept. Metro International receives an ongoing franchise fee and retains an option to acquire an interest in the newspaper in the future. The newspaper will also buy content from Metro World News.
The new edition of Metro was launched today with the hand distribution this morning of 400,000 copies of the new newspaper in and around the Seoul city center, making Metro the fourth largest newspaper in Seoul. The South Korean national print advertising market generated gross revenues of US$ 2.4 billion in 2001.
Seoul is one of Asia's largest cities, with a population of 10.5 million people. South Korea is also co-host of the 2002 Football World Cup, which starts today and has already resulted in a substantial increase in the number of visitors to the city and attracted significantly increased advertising media spend in the region. The first Metro Seoul edition already includes advertisements from leading brands including Visa, Hyundai and Korea Telecom.
For further information, please visit www.metro.lu, email info@metro.luor contact:Pelle Tornberg, President & CEO, tel: +44 (0) 20 7408 0230
Matthew Hooper, Investor & Press Relations, tel: +44 (0) 20 7321 5010
Metro is the world's largest free newspaper, publishing and distributing 23 editions in 15 countries in 13 languages: Stockholm (Metro), Prague (Metro), Gothenburg (Metro), Hungary (Metro), the Netherlands (Metro), Helsinki (Metro), Malmo (Metro), Santiago (Publimetro), Philadelphia (Metro), Toronto (Metro Today), Rome (Metro), Milan (Metro), Warsaw (Metropol), Athens (Metrorama), Montreal (Metro), Barcelona (Metro Directe), Boston (Metro), Madrid (Metro Directo), Copenhagen (MetroXpress), Paris (Metro), Marseille (Metro), Lyon (Metro) and Hong Kong (Metropolis Daily).
Metro International S.A. 'A' and 'B' shares are listed on the NASDAQ National Market and on the Stockholmsborsen O-List under the symbols MTROA and MTROB.
This information was brought to you by Waymaker http://waymaker.net
The following files are available for download: