ALMA MEDIA CORPORATION PRESS RELEASE 26 Oct 2007
KAUPPALEHTI TO FOCUS ON NATIONWIDE BUSINESS JOURNALISM
Kauppalehti Oy, part of Alma Media Corporation, will focus on its core business: nationwide business journalism and business information services. Following this decision, Kauppalehti Oy will implement its plan of discontinuing the Presso magazine, appearing in the Greater Helsinki area on Saturdays, in mid-November. As part of the plan, some economic content of Presso will be transferred to Kauppalehti, thus strengthening Kauppalehti's role as the leading nationwide business newspaper. The change will also free resources to develop the content and marketing of Kauppalehti.fi online service.
Presso subscribers and advertisers will be offered substitutes from Kauppalehti's product range during the next few weeks.
As part of the plan, Kauppalehti Oy has started statutory personnel negotiations on changes in personnel with Presso's editorial staff. According to the plan, the discontinuation of Presso will reduce work in Kauppalehti Oy by approximately 5 employee-years. The negotiations affect 12 people and are estimated to take two weeks.
Presso was launched in autumn 2004. Its content and layout have been well received. Its profitability, however, did not meet original targets.
Kauppalehti Oy's products will in future include Kauppalehti, Kauppalehti Optio, Kauppalehti Vip and Kauppalehti.fi. In addition, Kauppalehti Oy produces Talousuutiset (Economic News) for the MTV3 TV channel and offers a wide range of business and corporate information services, such as ePortti, a portal distributing information on companies and authorities.
Kauppalehti is Finland's leading business medium. Its circulation is 81,377 (LT 2006), and the weekly number of unique visitors to the Kauppalehti.fi online service is approximately 295,000. Alma Media's Kauppalehti Group business area includes, besides Kauppalehti, Alma Media Lehdentekijät, the direct marketing company Kauppalehti 121 Oy and BNS, the leading news agency in the Baltic countries.
More information on 26 October 2007, during 12 - 14:
Juha-Petri Loimovuori, Managing Director, Kauppalehti Oy, telephone +358 10 665 2360
Hannu Leinonen, Senior Editor-in-Chief, Kauppalehti, telephone +358 10 665 2392.
Alma Media is a profitably growing and internationally expanding company that invests in the future of newspapers and the online media. Its best known products are Aamulehti, Iltalehti, Kauppalehti and Etuovi.com.
Net sales in 2006 totaled EUR 302 million and the operating margin was 16 %. The company's share is listed in the Mid Cap segment of the OMX Nordic Exchange's Nordic List, trading code ALN1V. More information at www.almamedia.fi