Will create the printing giant.
Polaris Media and Edda Media wants to merge the companies printing company in a joint venture, according to a stock exchange announcement from Polaris Media.

The parties signed Monday an agreement to study a merger, and will use the spring to determine whether it is possible.

One such joint venture will be owned by a total of six printers. Four of today is owned in whole or in part by Polaris Media, and two of today is owned by Edda Resource. In addition, the plan is also to include the advertising agency Edda Media Team in the new company.
National market

CEO Per Axel Koch in Polaris Media says the goal of establishing a merged printing company is to strengthen competitiveness in the domestic printing market, increase the attractiveness and improve the offer to customers. He emphasizes that this is a grip that companies take primarily to increase revenue - does not save costs.

- It is an offensive measures in the printing market, where we expand and include South Norway, “says Koch to aion kinah.

It is quite exactly a year ago Polaris Media bought the Eddas operations in the northwest, including newspapers Sunnmørsposten and RomsdalsBudstikke. Koch says it is this cooperation that has led to plans for a printing co.

- Since December, we talked about it as an exciting opportunity, and we’ve come so far that we found it appropriate to sign a letter of intent, “he says.

Koch says the printing market is in a phase characterized by structural change and consolidation, and points to the fact that Media Norway is in the process of establishing a common commercial printing company. It has accelerated cooperation between Polaris Media and Edda Media.

- This will be the only printing company with a national position, “he says.
Billion Company

While several of Polaris Media’s newspapers have been struggling in the wake of financial crisis, especially Adresseavisen, the group’s printing company delivered stable results. Polaris Press had at the end of the third quarter of last year’s revenues at 352.7 million dollars, and an operating profit before depreciation of 78.1 million kroner.

The businesses which now wants to merge, had in 2008 a total turnover of over one billion, and operating profit before amortization of 200 million.

Polaris Media and Edda Media will in the spring of clarifying the legal and commercial issues, as well as conduct a review of the companies. Eventually it will be drawn up proposals for a final agreement must be approved by the boards of the two companies, and by the Board of Eddas owner Mecom.

The question of trade-off between the companies, senior management and the location of the headquarters, is also something that will be clarified in the spring. What is clear is that Polaris Press in principle, is the largest company, but whatever terms the new company will be jointly controlled.
Nationwide

Polaris Media is today the owner of the printing press Harstad, Polaris, Polaris Press Trondheim and Ålesund Polaris Press. Polaris Media also owns half of Nr1 address-Press Orkanger, where A-The press owns the other half.

Edda Media owns a print shop on the Borg forest in Vestfold and one in Haugesund.