Sandrew Metronome faces cost reductions

Sandrew Metronome – a leading pan-Scandinavian distributor, releasing about 30 titles annually including Warner Bros product – is now facing ”strategic change and reorganisation” annnounced by the company’s sole owner.

Norway’s largest media concern, Schibsted, said that it ”will not continue as a long term owner of the company, as Sandrew Metronome is not part of the core activities of the group.”

Due to ”reduced demand in the market and weak profitability over long time,” Schibsted has initially decided to implement cost reductions, which will affect 20 full time positions in the Nordic countries.

Confirming that all existing productions and distributions agreements will continue as usual, Schibsted explained that it is currently considering a divestment of the operation or parts of it. Still it will have limited financial effects for the concern.

Sandrew Metronome was created in 1998 as a joint venture of Schibsted with Sweden’s Anders Sandrew Foundation, which came up with a 100-screen cinema circuit in Sweden and an all-window distribution.

Schibsted added in Norwegian distributor, Norsk FilmDistribusjon, and Danish distributor Warner & Metronome, which also operated cinemas. In 2005 Sandrew Metronome sold Sandrew Film’s cinemas to Triangel Film and then in 2006 sold its Danish screens to Nordisk Film.

The same year Schibsted bought Sandrews’ 50% share, ”to strengthen the potential of further developing the company, especially in digital distribution,” in the words of chairman Gunnar Strømblad.