Schibsted Closes print edition of Segunda Mano, losses in Spanish free press group
Norwegian publisher Schibsted closed the print edition of Segunda mano, the largest circulated classified newspapers in Spain. Schibsted has decided to serve the market exclusively through its website. As a result of this decision, 217 workers were laid-off.
Schibsted also owns 80% of the free newspaper 20 Minutos in Spain.
20 Minutos had advanced a lot in circulation and revenues in recent years. However, the current decline in economic activity in Spain has precipitated a decline in advertising revenue and losses of 5.7 million euros. 14 employees were recently dismissed from 20 Minutos.
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