Alma Media > Releases > Stock exchange release > Alma Media has completed the sale of the regional news media business and printing operations to Sanoma Media Finland

Alma Media has completed the sale of the regional news media business and printing operations to Sanoma Media Finland

Alma Media Corporation, Stock Exchange Release, 30 April 2020 at 10:45 (EET)


Alma Media has today completed the sale of Alma Media Kustannus Oy, operating in the regional news media business, and Alma Manu Oy, operating in the printing business, to Sanoma Media Finland Oy. The transaction was announced on 11 February 2020 and was subject to customary closing conditions, including approval of the Finnish Competition and Consumer Authority, which was announced 19 March 2020.

– The divestment of the regional media and print business is a logical step and continuation of our previous divestments and part of disciplined portfolio development towards profitable and growing digital services. Going forward, our strategic focus will be on growing the marketplaces business in Finland and internationally, leveraging the professional media and services aimed at professionals in Finland as well as developing national multi-channel consumer media and services, says Kai Telanne, President and CEO of Alma Media.

– I want to thank the employees of the regional news media business and the Alma Manu printing business for their uncompromising long-term commitment, high-quality work and strong contribution to the success of their own businesses and to Alma Media Group as a whole. The regional media business is making good progress in digital transformation and they are ready to take the next step in their development as part of the Sanoma Group. Sanoma Media Finland has a long history, in-depth knowledge of the Finnish media sector and the necessary resources to ensure the continuity of the regional and local news media business. Local media still play a central role in their areas in the daily life of consumers and ensuring the vitality of local business, especially during the current crisis and the subsequent reconstruction, Telanne adds.

In the prevailing exceptional circumstances, the consumption of digital content and services has grown significantly. The coronavirus epidemic is expected to change consumer behaviour permanently and also accelerate the demand for digital services aimed at businesses. The structural transformation of the media sector is expected to continue and strengthen further.

Financial impacts of the divestment

Cash and debt free transaction price (enterprise value) of the divested business was EUR 115 million, and it was paid at closing. The divestment further strengthens Alma Media’s financial position. Alma Media will recognise a capital gain of approximately EUR 57 million on the sale in the second quarter of 2020.

At the end of March 2020, Alma Media’s interest-bearing liabilities stood at EUR 88 million, consisting entirely of lease liabilities. After the divestment, the Group’s interest-bearing liabilities will decrease to EUR 45 million. At the end of March 2020, Alma Media had EUR 87 million in cash and cash equivalents and as a result of the transaction the Group’s cash and cash equivalents will increase to EUR 140 million euros.

The Group has reported the divested business as a discontinued operation. Alma Media’s continuing operations consist of Alma Markets, which focuses on digital marketplaces, Alma Talent, a provider of financial media and services aimed at professionals and businesses, and Alma Consumer, which focuses on the national consumer media business. The result of continuing operations was reported separately in the interim report for Q1/2020 and the consolidated financial statements for 2019. 

About the transaction

The businesses to be divested include regional newspapers Aamulehti and Satakunnan Kansa, local newspapers Janakkalan Sanomat, Jämsän Seutu, Kankaanpään Seutu, KMV-Lehti, Nokian Uutiset, Rannikkoseutu, Suur-Keuruu, Merikarvia-Lehti, Sydän-Satakunta, Tyrvään Sanomat, Valkeakosken Sanomat, Jokilaakso and Vekkari as well as Alma Manu printing operations, which are reported under the Alma Consumer segment.

Following the closing of the transaction, a total of 365 employees (converted into full-time equivalents) are transferred to Sanoma Media Finland Oy.

The transaction costs related to the divestment are estimated to be EUR 2.6 million, of which EUR 1.1 million was recognised in expenses for 2019 and an estimated EUR 1.5 million will be recognised in expenses for 2020.

For more information, please contact: 
Kai Telanne, President and CEO, Alma Media, tel. +358 10 665 3500 
Juha Nuutinen, CFO, Alma Media, tel. +358 10 665 3873

Alma Media Corporation
Board of Directors

Distribution: Nasdaq Helsinki, main media,

Alma Media in brief

Alma Media is a dynamic digital service business and media company with a strong capacity for renewal. The company’s best-known brands are Kauppalehti, Talouselämä, Iltalehti, and Monster. Alma Media builds sustainable growth expanding its offering from media to related digital services fulfilling the needs of users’ everyday life as consumers and as professionals in business. Alma Media operates in 11 countries in Europe. Alma Media employs approximately 1,500 professionals. Alma Media’s revenue from continuing operations was EUR 250.2 million in 2019. Alma Media’s share is listed on NASDAQ Helsinki. Read more at 

  • Published: 30.4.2020, 10:45
  • Category: Releases, Stock exchange release

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