Alma Media Corporation Press release 3 March 2014 at 13.20 EET
ALMA MEDIA DIVESTS BNS
Alma Media's Kauppalehti Group has sold its news agency and media monitoring business Baltic News Service (BNS) to Oü Uudisvoog which is owned by Koha Capital Oü, an Estonian venture capital company. The parties have agreed not to disclose the transaction value. As a result of the transaction Alma Media will book a 0.8 MEUR sales gain into its first quarter 2014 profits.
BNS operates in Estonia, Latvia and Lithuania and had an annual revenue of 4.2 MEUR in 2013. BNS was founded in 1990 and it became part of Alma Media in 1998.
- BNS has performed well in its own business. However, the synergies it has had with other businesses of Kauppalehti Group have remained limited. We will now focus on offering business media and digital services for companies, says Juha-Petri Loimovuori, Senior Vice President of Kauppalehti Group.
For more information, please contact:
Juha-Petri Loimovuori, Senior Vice President of Kauppalehti Group, tel. +358 500 511 036, firstname.lastname@example.org
Alma Media in brief
Alma Media is a media company focusing on digital services and publishing. In addition to news services, the company's products provide useful information related to lifestyle, career and business development. The services of Alma Media have expanded from Finland to the Nordic countries, the Baltics and Central Europe. The company employs 1,965 professionals (excluding distributors), of whom approximately one third work outside Finland. Alma Media's revenue in 2013 totalled approximately MEUR 300. Alma Media's share is listed on NASDAQ OMX Helsinki. Read more at www.almamedia.com