Alma Media Corporation Press Release 15 March 2010
TYRVÄÄN SANOMAT AND PAIKALLISSANOMAT BEING BOUGHT BY SUOMEN PAIKALLISSANOMAT
Two local papers, Tyrvään Sanomat and Paikallissanomat, appearing in Sastamala and its neighbouring municipalities, are to be bought by Suomen Paikallissanomat Oy. Negotiations on the deal ended with an agreement on purchasing the two papers' business operations, which Tyrvään Sanomat Oy will present to its annual general meeting for approval.
According to Kari Juutilainen, Managing Director, Suomen Paikallissanomat Oy, it is natural that his company is expanding in the direction of Sastamala. Newspapers published by the company already have circulation or are distributed in the neighbouring municipalities, such as Nokia, Huittinen, Kokemäki and Kankaanpää. The circulation areas only overlap in Lavia.
-Tyrvään Sanomat is a highly esteemed local paper with quality journalism, and together with Paikallissanomat it fits our family of local papers very well, says Mr Juutilainen.
Mr Kaarlo Rautajoki, Chairman of the Board of Tyrvään Sanomat Oy, believes that local papers are looking at a bright future, but the resources of small publishers to meet the challenges of the future are more limited than those of a big publishing company. In addition, the present ownership of his company is rather fragmented and resides outside the Sastamala region. In a situation like this, one strong owner can better take responsibility for the further development of the company's papers.
- Things like distribution price development, system investments and the necessity of online services are of a magnitude that is better within the operational scope of publishing chains than small publishers, Mr Rautajoki says.
Tyrvään Sanomat, published twice a week by Tyrvään Sanomat Oy, appears in Sastamala and Kiikoinen. The once-weekly Paikallissanomat appears in Sastamala in the areas of the former Mouhijärvi and Suodenniemi, as well as Lavia. The deal now negotiated includes, besides the publishing rights of the newspapers, the business operations of the advertising agency Idea-Mainos.
Kari Juutilainen, Managing Director, Suomen Paikallissanomat Oy, tel. +358 50 435 4159.
Suomen Paikallissanomat Oy is Alma Media Corporation's local paper company publishing 16 subscription-based local papers and 4 city papers in different parts of Finland.
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Alma Media is a profitable and internationally expanding company with a focus on the future of newspapers and online services. Its best known products are the Aamulehti, Iltalehti, Kauppalehti and Etuovi.com.
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