Brief: North Media Aviser restructures Søndagsavisen to restore profitability

North Media A/S

28/06/2016 13:29

June 28 (Reuters) - North Media A/S  NORTHM.CO  
    * North Media Aviser A/S restructures Søndagsavisen to restore profitability and to be in a 
stronger position in the new media market 
    * Restructuring will reduce costs by about 20 million Danish crowns ($3 million) 
    * Says restructuring will result in special cost items of about 8 million crowns in 2016 
    * As part of the restructuring of Søndagsavisen, expectations are that 25-30 jobs 
will be cut 
    * Unchanged earnings expectations for FY 2016 
    * Still sees group revenue between 865 million - 915 million crowns and EBIT ex-items 
between a negative 25 million and negative 55 million crowns 
    * In May 2016, North Media Aviser divested six local editions of Søndagsavisen and its 
equity interest in A/S Vestsjællandske Distriktsblade to Sjællandske Medier 
 
     
Source text for Eikon:  ID:nCSE6nHj  
     
Further company coverage:  NORTHM.CO  
 
($1 = 6.7137 Danish crowns) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))