Monday, May 11, 2009

Metro International sells US operations to former CEO

Seabay Media is a new company launched by Seabay Capital Associates, which was formed by Tornberg and other investors around a year ago and has already invested in internet companies.

Its aim is to return the existing US editions to profitability before expanding in the country. Tornberg told Brand Republic the company did not intend to make job cuts but said "we live in a world where everything is unpredictable so I shouldn't promise anything in either direction".

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