Metro International S.A. ("Metro"), the international newspaper group, today announced that its subsidiary Publimetro in Chile has acquired the remaining 65 percent of SubTV and that the change of ownership has been accepted by the transportation authorities. Publimetro thereby controls 100 percent of SubTV and the accounts will be consolidated from 1 October 2010. The acquired stake is valued at €4.7 million. The consolidation of SubTV is expected to have a total positive EBIT impact of approximately €1 million in 2011 with high EBIT growth expectations. SubTV has developed a successful television business exclusively delivering news, entertainment and information to subway commuters in Santiago through television screens in stations and trains. Every day 2.5 million trips are made within the subway system. Presence in the subway permits Metro to offer its clients a unique and attractive audience with relevant demographics. Per Mikael Jensen, President and CEO of Metro International, commented: "Broadcasting TV within the subway is our entrance to digital advertising. SubTV have possibilities to expand into further cities in Chile as well as other Latam countries in the future. This is a good example of Metro's strategy to grow by brand extensions out of the print business." Pablo Mazzei, EVP for Latin America Metro International added: "Since we first acquired a stake in SubTV in 2008, the company has doubled its EBIT. We are expecting growth to continue the coming five years. The improved results illustrate the significant synergies between Publimetro's publishing business and SubTV's television business in content production, sales and marketing. We can provide clients with a portfolio of unique advertising solutions in different channels, making Metro a strategic media partner for agencies and key clients and top of mind in the market." For further information, please visitwww.metro.lu, or contact: Per Mikael Jensen, President and CEO Tel: +46 8 120 570 00 Pablo Mazzei, EVP Latin America Tel: +56 9 9 158 0700 Linda Fors, Head of Investor Relations Tel: +46 704 15 95 30 *** ABOUT METRO INTERNATIONAL AND METRO Metro is the largest international newspaper in the world. Metro is published in over 100 major cities in 19 countries across Europe, North & South America and Asia. Metro has a unique global reach - attracting a young, active, well- educated Metropolitan audience of 17 million daily readers. Metro International S.A. shares are listed on Nasdaq OMX Stockholm through Swedish Depository Receipts of series A and series B under the symbols MTROA and MTROB [HUG#1452472]
Publimetro acquires remaining 65% equity in SubTV
| Source: Metro International S.A.