Alma Media Corporation Press Release 28 October 2013 at 10:05
POHJOLAN SANOMAT TO SHIFT ITS PRINT EDITION FROM A SEVEN-DAY TO A FIVE-DAY PUBLICATION
Alma Media will make the Kemi-based regional newspaper Pohjolan Sanomat a five-day publication from the beginning of 2014. The statutory employer-employee cooperation negotiations concerning the impacts on personnel have been concluded. Due to the change in the publication schedule, the number of Pohjolan Sanomat employees will decrease by nine persons. The change affects the editorial staff the most, with seven redundancies.
Due to these changes, Alma Media will recognise a non-recurring expense of approximately EUR 0,3 million in the fourth quarter of 2013, mainly due to restructuring expenses.
The reduced print delivery will be supplemented by a daily online service. Some of Pohjolan Sanomat's online services will become available for subscribers only from the beginning of next year. The volume of digitally distributed paid-for content will increase considerably in connection with the reform. The subscription rate, on the other hand, will decrease as the newspaper is published less frequently.
The aim of the change is to improve profitability. The negative circulation trend, the impact of the downward economic cycle on advertising investments and the transformation of the structure of advertising have resulted in Pohjolan Sanomat operating at a loss. In Northern Finland, higher distribution and transport costs also affect profitability.
For more information
Kari Juutilainen, Senior Vice President, Alma Regional Media, tel. +358 50 4354159
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 approximately 1,900 professionals (excluding distributors), of whom over 20% work outside Finland. Alma Media's revenue in 2012 totalled approximately MEUR 320. Alma Media's share is listed on NASDAQ OMX Helsinki. Read more at www.almamedia.com