Alma Media Corporation (“Alma Media”), a leading European media company focusing on digital services and publishing, has sold its regional news media business and printing operations to Sanoma Media Finland (“Sanoma”), a subsidiary to the European learning and media company Sanoma Corporation. The divested business includes regional newspapers Aamulehti and Satakunnan Kansa, 13 local newspapers as well as Alma Manu printing operations located in Tampere, Finland. MCF acted as a financial adviser to Alma Media and helped secure a successful outcome for its client.
MCF supports Alma Media on the sale of its regional news media business and printing operations to Sanoma Media Finland
MCF acted as a financial adviser to Alma Media and helped secure a successful outcome for its client.
The transaction sharpens Alma Media’s strategic focus on the development of its digital and international businesses, as well as supports Alma Media’s strategic ambitions to build sustainable competitive positions and achieve its long-term growth targets. The enterprise value of news media business and printing operations to be divested is EUR 115 million.
Going forward, Alma Media’s key growth areas will be digital marketplaces in Finland and internationally, the national multi-channel consumer media and service business in Finland, as well as financial and professional media and services targeted at businesses.
The transaction is subject to customary closing conditions including approval from the competition authority in Finland and is estimated to take place during 2020.
Alma Media’s regional news media business comprises two regional newspapers, Aamulehti and Satakunnan Kansa published in Tampere and Pori regions, respectively, as well as 13 local newspapers published in the same or adjacent areas. Total number of subscriptions was approx. 190.000 year-end of 2019, of which approx. 14 percent are digital-only. In addition to the newspapers, the divested business includes a modern printing facility located in Tampere, Finland.
In 2019, the business to be divested had net sales of EUR 99 million and adjusted EBITDA of EUR 15 million. Number of employees is 365.
About Alma Media
Alma Media is a media company focusing on digital services and publishing. In addition to news services, the company’s products provide useful information related to lifestyle, career and business development. The services of Alma Media have expanded from Finland to the Nordic countries, the Baltics and Central Europe.
Alma Media’s share is listed on NASDAQ Helsinki and market cap of the company is EUR 750 million.