MTV OY SELLS ITS DRAMA PRODUCTION UNIT
ALMA MEDIA CORPORATION STOCK EXCHANGE BULLETIN 29 SEPTEMBER 2000, 12.00 (EET) MTV OY SELLS ITS DRAMA PRODUCTION UNIT MTV Oy will sell its drama production operation to Jarowskij Draama Suomi Oy, a new company currently being established. The companys owners will be Jarowskij Underhållning AB in Sweden (85 %) and MTV Oy (15 %). With eight employees, MTV Draama generates annual sales of approximately FIM 15 million. The divestment will have a slightly positive impact on MTV Oys operating profit this year. In continuing to outsource its operations, MTV Oy has agreed to sell its drama production unit MTV Draama to Jarowskij Draama Suomi Oy, a new company set up for this purpose. MTVs holding in the new company will be 15 %, while the remaining 85 % will be held by the Swedish company Jarowskij Underhållning AB. MTV Draamas eight employees will be employed by the new company retaining their contractual status and benefits. MTV Draama has produced some 20 hours of programmes yearly for MTV3 Channel. It has annual net sales of about FIM 15 million. The divestment will have a slightly positive impact on MTV Oys operating profit this year. Ms Teea Hyytiä has been appointed President of Jarowskij Draama Suomi Oy and Mr Peppi Kajanne will continue as Programme Manager. MTV Oy and Jarowskij Draama Suomi Oy have signed a multi-year agreement guaranteeing domestic drama production for MTV OYs programmes. With annual net sales of approximately 300 million Swedish krona, Jarowskij is the largest independent TV programme production company in Scandinavia. The company produces some 500 hours of programmes in Sweden alone, in addition to its operations in Norway, Denmark, the Netherlands and Finland. ALMA MEDIA CORPORATION Ahti Martikainen Vice President, Communications and Investor Relations Further information: Mr Ilkka Kylmälä, President, MTV Oy, +358-9-1500 565 Mr Tauno Äijälä, Executive Vice President, MTV Oy, +358-9-1500 234
- Date: 29.9.2000, 08:00
- News type: Stock exchange release
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