Ole Jacob Sunde, chairman of Schibsted, emphasises the urgent need for media companies to balance long-term sustainability with a culture of innovation and risk-taking.
The evolving media landscape demands both financial resilience and a culture that embraces change, according to Ole Jacob Sunde, chairman of Schibsted Media and the Tinius Trust.
In an article reflecting on recent transformations at Schibsted, Sunde argues that the survival of quality journalism depends not only on independence from short-term profit demands, but also on the courage to experiment and invest in new models.
“Journalism costs money,” he wrote. “Schibsted and the media houses must be able to pay their own bills to be truly independent. This is not a sign of weakened ideals, but a prerequisite for their long-term survival.”
His remarks come amid one of the most significant restructurings in the company’s history. Schibsted recently completed a split that saw its media and marketplaces businesses become two separate entities – Schibsted Media and Vend – following years of market scepticism about the hybrid model. Around 250 jobs were cut as part of the reorganisation.
At the same time, Schibsted has acquired Telia’s TV and media business, and announced plans to accelerate digital transformation, including the use of artificial intelligence to better serve audience needs.
Sunde acknowledged the scale of these changes but insisted they were essential. “The old listed Schibsted – which combined marketplaces and journalism in one group – was no longer in step with developments,” he said. “The platform economy changed the rules of the game, and a more specialised company structure was necessary. The split has not weakened ownership, but has made it clearer.”
Since the Tinius Foundation became Schibsted Media’s sole owner last year, it has taken a more hands-on role in shaping the group’s strategic direction. While the foundation does not demand short-term financial returns, Sunde said it expects “an aggressive approach to new business models, products and user needs”.
He cited the recent call by Ole J. Mjøs in Aftenposten for media companies to “think new things, to invest and to take risks when necessary” – and endorsed it. “Schibsted must still dare,” he wrote, describing this as part of the company’s DNA.
He also underlined the need for realism in facing external threats. “Artificial intelligence and the financial incentives of global tech companies are challenging both the information economy and journalism’s place in society. User patterns are changing rapidly. The economy is under pressure. Credible sources of information are more important than ever.”
Source: Noah Wire Services
- https://www.aftenposten.no/meninger/debatt/i/bmxRae/journalistikk-trenger-baade-baerekraft-og-risikovilje – Please view link – unable to able to access data
- https://www.tinius.com/en/nyheter/self-sustained-journalism – In November 2017, Ole Jacob Sunde, chairman of Schibsted ASA and the Tinius Trust, advocated for self-sustained journalism during the European Venture Philanthropy Association’s Annual Conference. He emphasized that independent journalism requires independent funding and that media companies must innovate and experiment with new technologies to achieve economic sustainability. Sunde highlighted the importance of patient capital and entrepreneurship as bridges to renewed economic sustainability, underscoring the role of media in safeguarding democratic societies.
- https://www.reuters.com/business/media-telecom/telia-sells-tv-media-schibsted-media-615-mln-2025-02-25/ – In February 2025, Telia Company agreed to sell its TV & Media division to Schibsted Media for 6.55 billion Swedish crowns. The deal included the TV4 and MTV brands in Sweden and Finland and was expected to close in the third quarter of 2025. Telia planned to use the proceeds to reduce its debt, aligning with its strategy to focus on core connectivity business in the Nordic and Baltic regions. Schibsted Media, owned by the Tinius Trust since 2024, is a prominent media company in Norway and Sweden.
- https://www.reuters.com/technology/norways-schibsted-cut-250-jobs-cost-drive-2024-06-18/ – In June 2024, Norwegian online classified ads group Schibsted announced plans to cut around 250 jobs in the Nordic region as part of a restructuring plan aimed at reducing costs and increasing efficiency. This followed the company’s recent divestment of its legacy news media business. Schibsted operates online marketplaces for real estate, jobs, cars, travel, and other services in Norway, Sweden, Denmark, and Finland. CEO Christian Printzell Halvorsen stated that the company is taking decisive measures to improve profitability and adjust to the macroeconomic environment.
- https://schibsted.com/releases/schibsted-schibsted-asa-scha-schb-name-change-to-vend-marketplaces-asa/ – In May 2025, Schibsted ASA announced a name change to Vend Marketplaces ASA. The new name marks the beginning of an exciting new chapter, uniting the Nordic family of marketplaces under one name and a shared technology platform. CEO Christian Printzell Halvorsen stated that Vend is positioned to accelerate future winners, drive scalability, and clearly define itself as a leading technology company. The name change was registered with the Norwegian Register of Business Enterprises and was expected to be implemented on Euronext Oslo Børs shortly.
- https://schibsted.com/the-schibsted-separation/ – Schibsted and the Tinius Trust signed an agreement in March 2024 for the Trust to buy the news media operations from Schibsted, leading to the creation of two new companies: Schibsted Media and Schibsted Marketplaces. Schibsted Media focuses on leading media destinations in the Nordics, while Schibsted Marketplaces continues as a publicly traded company comprising Nordic marketplace brands such as Blocket, FINN, Tori, Oikotie, DBA, and Bilbasen. Both companies aim to build on their respective strengths and cultures to become world leaders in their areas.
- https://schibstedmedia.com/news/vend-schibsted-marketplaces-has-a-new-name/ – Schibsted Marketplaces, the company owning FINN, Blocket, DBA, Bilbasen, Oikotie, and Tori, announced a new name: Vend. The full Vend brand profile is yet to be finalized and will be launched in Q2 2025. CEO Christian Printzell Halvorsen stated that Vend will not only replace Schibsted Marketplaces but gradually take on a larger responsibility as a consumer-facing and employer brand. The company will continue to operate under the name Schibsted Marketplaces until the official launch of Vend in Q2 2025.