Alma Media Corporation Stock Exchange Release November 25, 2011 at 12:00 (EET)
ALMA MEDIA TO STREAMLINE ITS LEGAL GROUP STRUCTURE
Alma Media has decided to simplify its legal structure. Streamlining of the legal structure involves all legal companies belonging to Alma Media Group. The objective is to gradually minimise the number of the Group's legal companies during the next 12 months.
Among other things, the streamlining of the legal structure project aims to separate the operational decision making processes from the legal structure and to achieve cost savings through minimising both the internal administrative work load and the purchase of external administrative services.
Alma Media's operational activities, including the operations of the Group's newspapers and digital services, continue as normal. Thus, the project will not cause reductions in the number of employees nor will it trigger the process of statutory cooperation negotiations with the employees. The representatives of the employees have been informed in accordance with the Act on Cooperation within Undertakings.
The streamlining of the Group's legal structure complements the plan to renew Alma Media's organisation, announced on November 1, 2011, but it will be advanced as an independent project with separately defined objectives.
ALMA MEDIA CORPORATION
Vice President, Communications and IR
For further information, please contact:
Tuomas Itkonen, CFO, Alma Media Corporation, tel. +358 10 665 2244
Distribution: NASDAQ OMX Helsinki Stock Exchange, principal media
Alma Media in brief
Alma Media is a dynamic media company whose best-known products are Aamulehti, Iltalehti, Kauppalehti and Etuovi.com. Alma Media employs approximately 2,800 professionals. The company's net sales in 2010 totalled MEUR 311.4 with an operating margin of 13.9 per cent. Alma Media's share (ALN1V) is listed in the NASDAQ OMX Helsinki Exchange. Read more at www.almamedia.fi