Media giants join forces for new company
The three major media houses Polaris Media, Amedia, and Schibsted have taken an unexpected step in the Norwegian market. The companies have sent a notification to the Norwegian Competition Authority stating that they wish to establish a new, joint company for digital classified advertising.
Classified ads are small advertisements for the buying and selling of goods and services, as we know from websites like Finn.no. By joining forces in this area, the media houses aim to create a new and stronger player in the digital landscape.
The collaboration between these three giants is significant, as they collectively control a large portion of the media and advertising market in Norway. The new company could influence how Norwegians buy and sell used items online in the future.
The Norwegian Competition Authority will now assess whether this collaboration is legal. Their job is to ensure that there remains sufficient competition in the market so that no single company gains too much power. It is not yet known when the authority will provide its final decision on the matter.