Alma Media to launch weekly newspaper for greater Helsinki

ALMA MEDIA CORP. STOCK EXCHANGE RELEASE 27 MAY 2004, 14.30 1/2 ALMA MEDIA TO LAUNCH WEEKLY NEWSPAPER FOR GREATER HELSINKI Kauppalehti, part of the Alma Media Group, will begin publishing a weekly newspaper for early morning Saturday delivery in Greater Helsinki. The paper's particular target will be the active urban population. The aim is to enter profit in three years with a circulation of 50,000 copies. Business Information Group, a division of Alma Media Group and publisher of the Kauppalehti business and financial daily, will launch a new newspaper this year targeted in particular at the active urban population living in the Helsinki metropolitan area. The paper's policy is to provide a new channel for regional brand advertising, for example to consumers. From the outset the paper will be a multimedia product; its editorial staff will have the widest possible access to the Group's internal resources, working closely with all other Alma Media divisions. The new paper will derive its revenues from subscriptions and media advertising. It will be printed in tabloid form at the Group's Sarankulma printing plant in Tampere. On its launch the paper will be delivered automatically to all Kauppalehti subscribers in the Helsinki metropolitan area. It can also be subscribed by readers outside this area, in which case it will be delivered on Mondays. Kauppalehti will be responsible for the circulation and media marketing of the paper. Mr Juha Ruonala has been appointed head of the editorial team and the paper’s managing editor. The name of the paper will be released later. The weekend paper will be an excellent addition to Kauppalehti's overall service, says Hannu Leinonen, Executive Editor-in-Chief of Kauppalehti. "If the weekday Kauppalehti is a tool in the hands of its readers, the new weekend paper will be like a cup of good coffee," he describes. The paper’s policy is to stand out as a different, positive commentator on business and cultural issues, a modern paper that drives policy-making and expresses clear opinions. Alma Media's decision to launch a new paper is based on careful analysis and calculations, states Alma Media’s president and CEO Juho Lipsanen. "Our research indicates there is a clear need among both readers and advertisers for a paper such as this. We also have the most experience of multichannel publishing and cross- border editorial collaboration in Finland. The launch will slightly weaken BIG's operating profit this and next year but it will have no significant impact on our overall profitability. The newspaper's target is to generate a profit in its third year of operation. This will require roughly 50,000 subscribers and an established position as a new, alternative advertising medium," Lipsanen comments. "It is most important that the paper improves cash flow expectations from the outset. Our goal with the paper is to make a tangible and useful contribution both to the lives of 2/2 individual people and to the corporate community. We are not about to establish a new newspaper called Uusi Suomi (New Finland), but we do wish to build a better new Finland," he adds. Further information: Hannu Leinonen, Editor-in-Chief, Kauppalehti, tel. +358 9 5078411 Juha Blomster, President, Kustannusosakeyhtiö Kauppalehti, tel. +358 9 507 7530 ALMA MEDIA CORPORATION Ahti Martikainen Vice President, Communications and IR Distribution: Helsinki Exchanges, principal media
  • Date: 27.5.2004, 14:29
  • News type: Stock exchange release

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