JP/Politikens Hus, which owns Watch Medier, has concluded an agreement to acquire the Schibsted-owned media house Shifter Media, which consists of the tech medium Shifter and the financial medium BankShift. Consequently, JP/Politikens Hus is establishing a strategic partnership with Norway’s largest media group Schibsted. The strategic partnership aims to strengthen Watch Medier’s commitment to the B2B segment in Norway and Sweden.
As part of the transaction, Schibsted will acquire a 20% stake in a new joint company that brings together Watch Medier’s operations in Norway and Sweden. Shifter Media continues as an independent company under Watch Media Norway.
Watch Medier currently employs more than 250 employees and operates a wide range of niche media in Denmark, Norway, Sweden and Germany.
Accura advised JP/Politikens Hus in connection with the transaction.