SanomaWSOY Corp. Press Release 9 Jan 2008 at 9:00
Sanoma Magazines, the magazine division of the SanomaWSOY Group, has sold its filmed entertainment distribution company R.C.V. Entertainment to Entertainment One Ltd. R.C.V. Entertainment is the largest independent distributor of filmed entertainment in the Benelux countries.
In 2006, R.C.V. Entertainment had net sales of some EUR 31 million and it had 46 full-time employees. The gain on the sale of asset amounts to some EUR 23 million. Closing will take place on 10 January 2008.
This divesture fits Sanoma Magazines' strategy to focus on and enforce its core activities, i.e. magazine publishing and online operations. Last year Sanoma Magazines disposed of its puzzle magazine portfolio in the Netherlands.
Entertainment One is an independent distributor of filmed entertainment in the United Kingdom, USA and Canada. Entertainment One is actively seeking to expand its distribution network in other key markets.
Senior Vice President
Finance and Administration
SanomaWSOY's Group Communications, tel. +358 105 19 5062 or email@example.com
Sanoma Magazines' Corporate Communications, tel. +31 6 229 326 43 or firstname.lastname@example.org
Sanoma Magazines is one of the largest consumer magazine publishers in Europe. The company publishes more than 300 magazines in 13 different countries. Apart from developing its strong portfolio of magazine brands for various reader communities, Sanoma Magazines is expanding its business to other media platforms, with a clear focus on interactivity. Sanoma Magazines is part of the SanomaWSOY Group, which operates in versatile fields of media in over 20 European countries.
Admitted to trading on AIM on 29 March 2007, Entertainment One Ltd's strategy is to build a leading global independent entertainment content ownership and distribution business which acquires films, television programs and music content and exploits these rights in all media throughout the world. Entertainment One holds all rights to Summit Entertainment features in Canada and the UK, and is the largest distributor of home entertainment products in the Canadian market.