Schibsted Media Group Set To Buy Music Streamer Aspiro

Jan 12, 2012

Scandinavian media group Schibsted ASA plans to acquire music streaming provider Aspiro AS for 340 million Swedish kroner ($49 million). Schibsted already owns 18.3% of the company, and Aspiro's board is reportedly recommending that its shareholders accept Schibsted's bid for all shares; so far, a third of shareholders have expressed their support.

"Aspiro operates the WiMP unlimited music service to telcos Telenor [Group] and Canal [Digital] and PT in Denmark and Norway, via the Norwegian entertainment retailer Platekompaniet, plus on a white label basis through PT in Portugal and via another partner coming up in the Benelux," reports As of September, WiMP had some 350,000 paying users; the service costs 99 Norwegian kroner (about $16.50) per month.

Aspiro made 185 million Swedish kroner ($26.6 million) in net sales in 2010, according to Schibsted, and 159 million kroner ($22.9 million) from January to September 2011. The company has plans to launch in Ireland and Germany in the future.