SOL - Terminates co-operation regarding CNN Sverige

SOL - Terminates co-operation regarding CNN Sverige The co-operation between Scandinavia Online (SOL) and Turner Broadcasting Sales Europe Distribution Ltd (Turner) regarding the news service CNN Sverige will be terminated when the license agreement between SOL and Turner expires in July 2001. The license agreement has a three year term, and notice has been served to seven employees of CNN Sverige, which is operated within wholly owned subsidiary of SOL. The operation, which is located in Gothenburg, will continue until the end of July 2001. "The expiry of the license agreement and the termination of operations in CNN Sverige have been planned for some time, and will reduce our cost base by SEK 12 million on an annual basis", says Annika Söderberg, Managing Director of SOL Passagen AB, and responsible for SOL's Swedish operation. "Passagen's key strength and main focus is its market leading reach as a broad consumer portal. Closing our in-house news production strengthens this focus, and opens up new opportunities for co-operation with other news sites," concludes Annika Söderberg. For further information, please contact: Birger Steen (CEO, SOL AB), +46 709 35 28 18, birger.steen@scandinaviaonline.se Annika Söderberg (MD, SOL Passagen AB), +46 709 26 86 58, annika.soderberg@scandinaviaonline.se ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/29/20010528BIT00830/bit0001.doc http://www.bit.se/bitonline/2001/05/29/20010528BIT00830/bit0001.pdf