Sanoma integrates its magazine and TV operations
Stock Exchange Release 4/11/2010 15:10
The Sanoma Group will integrate its divisions Sanoma Entertainment and Sanoma Magazines to form the new division Sanoma Media as of 1 January 2011. This integration enables Sanoma to leverage its television know-how and assets in Finland also internationally, as well as further strengthen Sanoma Magazines' market positions in Europe.
"Media are converging. Printed products, online services and television are getting closer to each other. I strongly believe that the integration of Sanoma Entertainment and Sanoma Magazines will help us in responding even more effectively to the needs of consumers and advertisers," says Hannu Syrjänen, President and CEO of Sanoma.
Currently, Sanoma Entertainment includes Finnish TV and radio operator Nelonen Media and online games unit Sanoma Games. Sanoma Entertainment will become one of the businesses of Sanoma Media. Anu Nissinen, President of Sanoma Entertainment, will be responsible for the TV and online gaming operations and report to Eija Ailasmaa, President and CEO of Sanoma Media. No effect on the number of employees is foreseen because of this transaction.
"Sanoma Media's aim is to be the market leader in selected European media markets. Combining Sanoma's TV and online gaming businesses with our current business portfolio gives Sanoma Media an excellent position to reach our growth and market leadership objectives in a converging media world," says Eija Ailasmaa.
"This is an exciting opportunity. As part of Sanoma Media we have excellent possibilities to expand our TV and online gaming operations to new European markets," Anu Nissinen continues.
This arrangement is aligned with Sanoma's strategy to restructure its business operations according to changing customer needs, develop synergies across the Group and strengthen its digital operations.
After the combination, Sanoma will have four divisions: Sanoma Media, Sanoma News, Sanoma Learning & Literature and Sanoma Trade. Sanoma's Executive Management Group comprises the Group CEO, the heads of the divisions, the Group CFO and the Group CSO.
Chief Financial Officer
Additional information from 15:30 onwards
Eija Ailasmaa, President and CEO of Sanoma Magazines, tel. +31 20 851 21 02
Anu Nissinen, President of Sanoma Entertainment, tel. +358 10 707 7000
Group Communications, tel +358 105 19 5062 or firstname.lastname@example.org
Sanoma inspires, informs and connects. As a diversified media group, we bring information, experiences, education and entertainment to millions of people every day. We make sure that quality content and interesting products and services are easily available and meet the demands of our readers, viewers and listeners. We offer a challenging and interesting working environment for 20,000 people in over 20 countries throughout Europe. In 2009, the Group's net sales totalled EUR 2.8 billion.