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Metro International S.A. is a Luxembourg limited-liability company
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Gazeta Metro re-launches in Moscow under the Metro brand
3 March 2009
Metro International S.A. ("Metro International"), the international newspaper group, announces that an edition of Metro was successfully launched yesterday in Moscow, Europe's most populous city with a population of over 15 million. Some 500,000 copies of the new Metro edition will be distributed daily through the Moscow subway.
On 18th December 2008, Metro International announced that it had entered into a Franchise Agreement with Gazeta Metro and formed a joint venture with the ESN Group. Metro International, through this new joint venture with the ESN Group, has an effective equity interest of 0.81% in Gazeta Metro.
Zenith Optimedia estimates that Russia's gross newspaper advertising market grew 19.1 % year-on-year in 2007 to US$ 11 billion.
Per Mikael Jensen, Metro International's President and CEO commented: "Moscow is one of the most populated metropolitan areas in the world and we are confident that the new Metro format will appeal to its young and active inhabitants. To expand in growth markets such as Russia, Latin America and Asia is a part of our Group strategy. Gazeta Metro had built up a large readership and this healthy starting point, combined with the implementation of Metro International's global newspaper format and its know-how, means therefore that the prospects for the Metro Moscow joint venture are exciting."
Robert Patterson, Executive Vice President said: "Since the start of our joint venture in St. Petersburg in 2005, the readership of Metro St Petersburg has more than doubled and today we are by far the most read newspaper in the city. This readership growth has enabled Metro St Petersburg to make significant advertising market share gains. Metro Moscow and Metro St. Petersburg will both benefit from sales and cost synergies. The Metro Moscow newspaper in its new format and following yesterday's re-branding, is now well placed to increase its advertising market share."
For further information please contact:
| Per Mikael Jensen, CEO and President | tel: +44 (0)20 7016 1300 |
| Robert Patterson, EVP | tel: +44 (0)20 7016 1300 |
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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