Alma Media Corporation Stock Exchange Release 15 January 2016 at 2:00 p.m.
THE COMBINATION OF ALMA MEDIA AND TALENTUM MAKES HEADWAY, TALENTUM WILL HAVE A NEW CEO
In accordance with the combination plan concluded between Alma Media and Talentum, Talentum’s business operations and Alma Media’s Financial Media and Business Services will be combined to form a new business unit in the course of 2016. In connection to this, the following decisions have been taken:
Aarne Aktan, CEO of Talentum Ltd, will step down after the financial statements for 2015 are released on 12 February 2016. Aktan will continue to work for Talentum until the end of June 2016, acting as CEO of Talentum’s Swedish subsidiary.
“I thank Aarne Aktan for his contribution to Talentum and excellent collaboration. In his position as CEO, he has been efficient and produced results. Working in collaboration with his management team, Aarne has brought Talentum’s business operations in Finland back on a growth path, in the face of a difficult market situation. I am also delighted that he will continue to work in the position of CEO of Talentum Sweden until the end of June, ensuring that the Swedish subsidiary will be put back on track in a manner similar to that of the Finnish business operations”, comments Kai Telanne, Chair of the Talentum Ltd Board and President and CEO of Alma Media.
“Talentum has been a great and rewarding project, and one to be completed in the course of the spring. I am proud of our accomplishments over the past four years. The combination of Alma Media and Talentum is quite something, and there would have been many interesting positions at Alma also. I will announce my plans for the future in the course of the spring”, says Aarne Aktan. “My work will continue in the coming spring in the Swedish press business, where my target will be to improve profitability.”
As of 13 February 2016, Juha-Petri Loimovuori will act as CEO of Talentum Ltd; he is also CEO of Kauppalehti Ltd. The following individuals, forming the Management Team of the new business unit to be formed following the combination, will be responsible for the unit’s operations: Arno Ahosniemi (editorial staff); Tuomas Hämäläinen (content sales); Tiina Järvilehto (media sales); Otto Mattsson (Kauppalehti Information Services); Tapio Teppo (Talentum Events) and Pia Ruusukivi (digital development). The Management Team will be supplemented later. The Management Team will begin work on 13 January 2016.
As part of the combination process, the companies have agreed on transfers of undertaking regarding certain operations of Talentum Media Ltd and Talentum Ltd. Of the business operations of Talentum Media Ltd, editorials, media sales and circulation sales will be transferred to Kauppalehti Ltd through the transfer of undertaking. Similarly, of the operations of Talentum Ltd, customer services and marketing will be transferred to Kauppalehti Ltd through transfer of undertaking.
These transfers of undertaking will take place on 1 February 2016. After the transfers of undertaking, Talentum will continue its current business operation, publishing its media and acquiring corresponding services in the form of outsourced services from Kauppalehti Ltd under a separate service contract, adhering to the current cost structure.
In connection with the transfers of undertakings, starting from 1 February 2016, approximately 170 Talentum employees will be transferred as employees retaining their current terms and conditions to the employment of Kauppalehti Ltd.
The transfers of undertaking to be carried out will have no significant effect on Alma Media’s or Talentum’s profit or balance sheet.
ALMA MEDIA CORPORATION
Vice President, Corporate Communications and Investor Relations
Kai Telanne, President and CEO, Alma Media Ltd, tel. +358 10 665 3500
Juha-Petri Loimovuori, Senior Vice President, Financial Media and Business Services, Alma Media, tel. +358 010 665 2360
Distribution: Nasdaq Helsinki, Main Media, www.almamedia.fi
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. In 2014, the company employed an average of 1,830 professionals (excluding deliverers), of whom approximately one quarter worked outside Finland. Alma Media’s revenue in 2014 totalled approximately EUR 295 million. Alma Media’s share is listed on Nasdaq Helsinki. Read more at www.almamedia.com.