Kauppalehti personnel negotiations completed

ALMA MEDIA CORPORATION           PRESS RELEASE 26 FEB 2007, 4.00 P.M. EET  1 (1)

 

KAUPPALEHTI PERSONNEL NEGOTIATIONS COMPLETED

 

Kauppalehti Oy has now completed the negotiations it started with its personnel representatives at the beginning of January. A new organization has been devised for Kauppalehti’s editorial desks that will support multimedia working more effectively. Likewise the operations of the company’s business departments have been reorganized and streamlined. Owing to these changes the company will reduce its personnel by 22 employees. A further 11 employees have left the company during the personnel negotiations.

 

The personnel reductions will reduce annual costs by altogether roughly EUR 1.9 million. Kauppalehti group entered a provision of EUR 1.1 million in its fourth-quarter 2006 accounts to cover the one-time personnel reorganization costs.

 

 

Further information:

 

Juha-Petri Loimovuori, Head of Kauppalehti group, tel. +358 (0)500-511 036

Hannu Leinonen, Editor-in-Chief, Kauppalehti, tel. +358 (0)40-535 1867

 

DISTRIBUTION: Helsinki Exchanges, principal media

 

Alma Media is a profitably growing and internationally expanding company that invests in the future of newspapers and the online media. Its best known products are Aamulehti, Iltalehti, Kauppalehti and Etuovi.com.

 

Net sales in 2006 totalled EUR 302 million and the operating margin was 16 %. The company’s share is listed in the Mid Cap segment of the OMX Nordic Exchange’s Nordic List, trading code ALN1V. More information at http://www.almamedia.fi/home