Alma Media Corporation Press release June 23, 2010 at 11.00 (EEST)
ALMA MEDIA ACQUIRES MAJORITY SHAREHOLDING IN KOTIKOKKI NET OY
Alma Media Corporation has increased its shareholding in Kotikokki Net Oy to 65%. The founder of the Kotikokki.net online service, Rohea Oy, will continue as the minority shareholder in the company. Previously, Alma Media held 40% of the shares in Kotikokki net Oy. Mr Asmo Halinen, Director of Iltalehti's online business, will be appointed Managing Director of Kotikokki Net Oy.
- Kotikokki.net, developed and maintained by Kotikokki Net Oy, has complemented our online services brilliantly since 2008. The transaction will further strengthen the Kotikokki.net's position as the largest Finnish food website. It is also important that we continue our cooperation with Rohea Oy, which is a recognised forerunner company in its field, says Mr Kari Kivelä, Publisher and Executive Editor-in-Chief of Iltalehti.
The change in Alma Media's ownership has no impact on the content or development of Kotikokki.net online service. The company will be reported as part of Iltalehti in Alma Media's Newspapers business segment also in the future.
Kotikokki Net Oy publishes Kotikokki.net online service focused on cooking. The service offers a wide selection of ideas and recipes to all interested in cooking. Tried and trusted recipes are created by other users of the service. Alma Media has been a shareholder in Kotikokki Net Oy since 2008.
Rohea Oy is focused on online consumer services. The online services developed and produced by Rohea include kotikokki.net, kuvake.net, qaiku.com and mikseri.net.
Iltalehti is the publisher for the third largest printed newspaper in Finland as well as the most popular online service, Iltalehti.fi. In 2009, Iltalehti.fi has regularly gained more than two million unique visitors weekly.
For further information, please contact:
Kari Kivelä, Publisher and Executive Editor-in-Chief, Iltalehti, tel +358 10 665 2032
Eero Holmila, Managing Director, Rohea Oy, tel. +358 40 592 0671
Alma Media in brief
Alma Media is a profitable and internationally expanding company with a focus on the future of newspapers and online services. Its best known products are the Aamulehti, Iltalehti, Kauppalehti and Etuovi.com.
Alma Media's net sales in 2009 totalled MEUR 307.8 with an operating margin of 13.5 per cent. The company's share (ALN1V) is listed in the NASDAX OMX Helsinki Exchange. Read more at www.almamedia.fi