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Scanpix Scandinavia AB and Pressens Bild AB to merge.

NORDIC BUSINESS REPORT-5 July 2005-Scanpix Scandinavia AB and Pressens Bild AB to merge(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com

The Swedish picture agency Scanpix Scandinavia AB said on Tuesday (5 July) that it had entered into an agreement to merge with its competitor Pressens Bild AB to create a leading northern European picture agency with 65 employees and a combined turnover of some SEK100m.

The combined company will be 50/50-owned by Bonnier AB, the owner of Pressens Bild, and Scanpix Scandinavia.

Scanpix Scandinavia is 75%-owned by the Norwegian media group Schibsted ASA.

The proposed merger is conditional on approvals from the competition authorities.

One Swedish krona (SEK) is worth approximately 0.07 British pounds (GBP).

((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))

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Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:4EUSW
Date:Jul 5, 2005
Words:132
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