Alma Media to launch weekly newspaper for greater Helsinki
ALMA MEDIA CORP. STOCK EXCHANGE RELEASE 27 MAY 2004, 14.30 1/2
ALMA MEDIA TO LAUNCH WEEKLY NEWSPAPER FOR GREATER HELSINKI
Kauppalehti, part of the Alma Media Group, will begin publishing a
weekly newspaper for early morning Saturday delivery in Greater
Helsinki. The paper's particular target will be the active urban
population. The aim is to enter profit in three years with a
circulation of 50,000 copies.
Business Information Group, a division of Alma Media Group and
publisher of the Kauppalehti business and financial daily, will
launch a new newspaper this year targeted in particular at the
active urban population living in the Helsinki metropolitan area.
The paper's policy is to provide a new channel for regional brand
advertising, for example to consumers. From the outset the paper
will be a multimedia product; its editorial staff will have the
widest possible access to the Group's internal resources, working
closely with all other Alma Media divisions.
The new paper will derive its revenues from subscriptions and
media advertising. It will be printed in tabloid form at the
Group's Sarankulma printing plant in Tampere.
On its launch the paper will be delivered automatically to all
Kauppalehti subscribers in the Helsinki metropolitan area. It can
also be subscribed by readers outside this area, in which case it
will be delivered on Mondays.
Kauppalehti will be responsible for the circulation and media
marketing of the paper. Mr Juha Ruonala has been appointed head of
the editorial team and the papers managing editor. The name of
the paper will be released later.
The weekend paper will be an excellent addition to Kauppalehti's
overall service, says Hannu Leinonen, Executive Editor-in-Chief of
Kauppalehti. "If the weekday Kauppalehti is a tool in the hands of
its readers, the new weekend paper will be like a cup of good
coffee," he describes. The papers policy is to stand out as a
different, positive commentator on business and cultural issues, a
modern paper that drives policy-making and expresses clear
Alma Media's decision to launch a new paper is based on careful
analysis and calculations, states Alma Medias president and CEO
Juho Lipsanen. "Our research indicates there is a clear need among
both readers and advertisers for a paper such as this. We also
have the most experience of multichannel publishing and cross-
border editorial collaboration in Finland. The launch will
slightly weaken BIG's operating profit this and next year but it
will have no significant impact on our overall profitability. The
newspaper's target is to generate a profit in its third year of
operation. This will require roughly 50,000 subscribers and an
established position as a new, alternative advertising medium,"
Lipsanen comments. "It is most important that the paper improves
cash flow expectations from the outset. Our goal with the paper is
to make a tangible and useful contribution both to the lives of
individual people and to the corporate community. We are not about
to establish a new newspaper called Uusi Suomi (New Finland), but
we do wish to build a better new Finland," he adds.
Hannu Leinonen, Editor-in-Chief, Kauppalehti, tel. +358 9 5078411
Juha Blomster, President, Kustannusosakeyhtiö Kauppalehti,
tel. +358 9 507 7530
ALMA MEDIA CORPORATION
Vice President, Communications and IR
Distribution: Helsinki Exchanges, principal media