ALMA MEDIA CORP. PRESS RELEASE 27 DEC 2006 AT 13.00 1 (1)
KAUPPALEHTI STREAMLINES ITS OPERATIONS
Kauppalehti Oy will start statutory personnel negotiations concerning its entire personnel, which currently totals roughly 210 employees. The aim of the negotiations is to reduce personnel by an estimated 35-40 people. The one-time costs arising from the personnel reductions will be entered in their entirety in the fourth-quarter accounts.
The negotiations will seek, among other things, a new organizational model and mode of operation that more effectively supports the multimedia nature of Kauppalehti's editorial function.
The need for change is partly the result of weaker than expected media sales by Finnish business newspapers over several years. Media sales by the business press between January and November this year fell by 3 %.
All Kauppalehti products will continue to be published. These are Kauppalehti, Kauppalehti Presso, Kauppalehti Optio, Kauppalehti Vip and Kauppalehti Online. Kauppalehti Oy, the publishing company, also produces the Business News for the MTV3 television channel in addition to offering a wide variety of business and corporate information services, one example being the ePortti internet service for corporate and public authority information.
Alma Media's joint political editorial desk will be established as planned.
Kauppalehti is Finland's leading business and financial medium. The Kauppalehti business daily has a circulation of 81,006 (audit 2005), while the printed products in the Kauppalehti family account for roughly 44 % of total business print advertising in Finland.
Alma Media's Kauppalehti group comprises, in addition to Kauppalehti itself, the Lehdentekijät group (customer magazines), the direct marketing company Kauppalehti 121 Oy, and BNS, the leading news bureau in the Baltic countries. These personnel negotiations do not apply to Kauppalehti's subsidiaries. More information at http://www.almamedia.fi/Kauppalehti-ryhma
Juha-Petri Loimovuori, President, Kauppalehti Oy, tel. +358 10 665 2360
Hannu Leinonen, executive editor-in-chief, Kauppalehti, tel. +358 10 665 2392
DISTRIBUTION: Helsinki Exchanges, principal media
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 2005 totalled EUR 286 million and the operating margin was almost 15 %. The company's share is listed in the Mid Cap segment of the OMX Exchange's Nordic List, trading code ALN1V. More information at http://www.almamedia.fi/home