ALMA MEDIA CORP. STOCK EXCH. BULLETIN 12 Feb. 2001, 11.00 (EET) MTV SELLS PRODUCTION COMPANY TO AARNI KUORIKOSKI MTV Oy will sell its production company MTV Tuotanto Oy to Mr Aarni Kuorikoski. The company will continue to operate under its new owner in its existing premises. In the future MTV will buy production services from this company. The company has 34 employees. The divestment will have no immediate impact on MTV Oy’s performance. MTV Tuotanto Oy, a wholly owned subsidiary of MTV Oy, has been responsible for producing various event programmes and related production services for MTV. The company, which also supplies staging and directing services, was also responsible for MTV’s wardrobe and properties services. MTV Tuotanto Oy has 34 employees. MTV Oy initiated statutory negotiations with personnel representatives at the end of January to explore alternatives for raising operational efficiency, based on an analysis of the company’s operations completed last year. These discussions also applied to MTV Tuotanto Oy. The parties to the deal have agreed that the company’s new owner will continue the statutory negotiations as the new employer. In other respects MTV Oy’s personnel negotiations will continue according to plan. The negotiations are scheduled for completion by mid-March this year. According to Mr Aarni Kuorikoski, the company will continue to operate in its existing premises and its customers will include other companies in addition to MTV Oy. The number of employees will be adjusted to the workload. The deal means that some jobs will be saved. Mr Ilkka Kylmälä, President of MTV Oy, stated that this divestment is in everyone’s interest. It will improve MTV’s cost efficiency, while offering MTV Tuotanto Oy the freedom to grow as an independent company. Its opportunities for success are further supported, he added, by Aarni Kuorikoski’s thorough knowledge of the company and its business environment. Kuorikoski was previously employed as a producer in MTV Viihde Oy and as programming manager for Pearson Television Entertainment Oy. ALMA MEDIA CORPORATION Ahti Martikainen Vice President, Communications and Investor Relations
  • Date: 12.2.2001, 08:00
  • News type: Stock exchange release

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