Metro International S.A. ("Metro International"), the international
newspaper group, today announced that it is discontinuing the
activities of its franchise operation Metropolis d.o.o ("Metro
Croatia") in Croatia which publishes the free newspaper Metroexpress
in Croatia. Metro Croatia is 99% owned by the franchisee, Europapress
Holding (EPH). Friday 12 September 2008 was the last day of
publication for Metroexpress.
Metroxpress was launched in Zagreb in May 2006 and has grown to
become one or the largest free daily papers in Croatia. Despite this,
the newspaper's results during the past six months have fallen below
expectation and it was recently converted into a weekly publication.
Due to the circumstances, a decision has been made to close down
Metro Croatia and consequently terminate the Franchise Agreement.
The net EBIT effect of the close down of Metro Croatia in 2008 will
be close to nil for Metro International.
For further information please contact:
Per Mikael Jensen, CEO and President tel:
+44 (0)20 7016 1300
Robert Patterson, Executive vice President tel:
+44 (0)20 7016 1300
***
ABOUT METRO INTERNATIONAL AND METRO
Metro is the largest international newspaper in the world. Metro is
published in over 150 major cities in 21 countries across Europe,
North & South America and Asia. Metro has a unique global reach -
attracting a young, active, well-educated Metropolitan audience of
over 20 million daily readers. Metro's advertising sales have grown
at a compound annual rate of 38% since the launch of the first
edition in 1995.
Metro International 'A' and 'B' shares are listed on the OMX Nordic
Exchange's Nordic List under the symbols MTRO SBD A and MTRO SBD B.
Metro International closes franchise operation in Croatia
| Source: Metro International S.A.