ALMA MEDIA WILL ACQUIRE RADIO NOVA SHARES HELD BY MAAKUNTIEN VIESTINTÄ OY
ALMA MEDIA STOCK EXCHANGE RELEASE 15 DEC 2000, 1.00 pm (EET) ALMA MEDIA WILL ACQUIRE RADIO NOVA SHARES HELD BY MAAKUNTIEN VIESTINTÄ OY Alma Media Group has agreed to acquire Maakuntien Viestintä Oys subsidiary, which holds 13 % (390 shares and votes) in Oy Suomen Uutisradio Ab (Radio Nova). Alma Media Group now owns 61 % of the shares of Oy Suomen Uutisradio Ab. The Ministry of Transport and Communications has been informed of this agreement. Oy Suomen Uutisradio Ab, founded in 1997, is a Finnish commercial radio channel with nationwide coverage. Its founder members were MTV Oy (28 %) and Aamulehti-yhtymä Oys subsidiary Alexpress Oy (20 %) along with Maakuntien Viestintä Oy, Suomen Kansallisviestintä Oy, Viestintärahoitus Oy and Suomen Radioviestintä Oy, each with a 13 % holding. Control of the shares held by Suomen Radioviestintä Oy and Viestintärahoitus Oy was transferred earlier this year to the Norwegian company P4 Radio Hele Norge. In November this 26 % of the Radio Nova shares was moved to a new company owned equally by P4 Radio Hele Norge and the Swedish company MTG Radio. According to the press release issued by the companies, the aim of the new company is to increase its holding in Oy Suomen Uutisradio Ab. Alma Media Group has been responsible for financing Oy Suomen Uutisradio Abs activities since this company began operating. Its share capital is FIM 3 million. Radio Novas net sales in 1999 totalled FIM 56 million and its result of operations was a slight loss. According to Mr Eero Pilkama, chairman of Oy Suomen Uutisradio Abs Board of Directors, Alma Medias overall investment in the company exceeds FIM 20 million. The share acquisition will stabilize Radio Novas ownership and ensure systematic development of its operations. The transaction will have no effect on the companys activities or business strategy. ALMA MEDIA OYJ Terhi Lambert Communications Manager Further information: Mr Eero Pilkama, Executive Vice President, Alma Media Corporation, +358 9 507 8700, Mr Mikko Räisänen, Senior Vice President, Alma Media Corporation, +358-9-507 7501 DISTRIBUTION Helsinki Exchanges, principal media
- Date: 15.12.2000, 08:00
- News type: Stock exchange release
Release subscription form
NOTE. If you fill in your phone number, you will automatically receive the subtitles of the releases also as SMS. If you do not wish to receive SMS's from Alma Media, simply leave the phone number field empty.