Alma Media looking into options for restructuring within television sector
ALMA MEDIA CORP. STOCK EXCHANGE RELEASE 22.12.2004 AT 16.30 PM
ALMA MEDIA LOOKING INTO OPTIONS FOR RESTRUCTURING WITHIN TELEVISION SECTOR
During autumn 2004 Alma Media has been actively examining the various options for its involvement in any restructuring of the television sector in the Nordic countries. Now that the issue of TV4 AB's operating licence has been resolved positively today, Alma Media's Board of Directors has decided to actively continue these investigations.
Several changes have taken place recently in the television sector. Digitalization and the ending of analogue transmissions will lower operating costs and create new earnings potential for television companies. The restructuring of the sector has also begun, with examples such as the privatization of the Danish commercial broadcaster TV2, the transactions with TV4 AB shares, and the offer by Schibsted ASA to purchase the entire sharestock of Alma Media, published on 21 December 2004.
Alma Media is the leading television company in the Nordic countries; it owns MTV Oy with operations in Finland and is the largest shareholder in TV4 AB in Sweden with a 23.4 per cent holding. Today the Swedish government has extended TV4 AB's licence for analogue broadcasting until the end of 2008.
Alma Media has looked into the possibilities for restructuring the television sector. At its meeting on 22 November 2004 the Board authorized operational management to work with the investment bank Mandatum & Co. and examine the various options that would ensure that the interests of all Alma Media's shareholders are taken into account as well as possible in any restructuring of the sector.
Alma Media Oyj
Distribution: Helsinki Exchanges, Main media
CEO Juho Lipsanen, Alma Media Corporation, tel. +358 (0)9 507 8715
President Pekka Karhuvaara, MTV Oy, tel. +358 (0)9 1500 565
CFO Teemu Kangas-Kärki, Alma Media Corporation, tel. +358 (0)9 507 8703
Ahti Martikainen, VP, Communications and IR, Alma Media Corporation, tel. +358 (0)9 507 8514
- Date: 22.12.2004, 17:30
- News type: Stock exchange release
Release subscription form
NOTE. If you fill in your phone number, you will automatically receive the subtitles of the releases also as SMS. If you do not wish to receive SMS's from Alma Media, simply leave the phone number field empty.