The Sanoma Group, owners of daily newspapers Helsingin Sanomat and Ilta-Sanomat among other titles, has expanded its portfolio buying more than a dozen local papers from Alma Media.
A total of 15 newspapers including Tampere-based Aamulehti and Satakunnan Kansa in Pori, along with smaller titles in Pirkanmaa and western and Central Finland, were included in the purchase price of €115 million.
There are approximately 365 staff working at these new newspapers who now become Sanoma employees, and the newsrooms will continue to be editorially independent. However, Sanoma says the acquisitions will bring the company “annual net synergies” – or savings – of €13 million each year by 2022.
“Alma Media’s regional titles have strong brands and customer bases in their regions and are complementary to our news media offering” says Pia Kalsta, CEO of Sanoma Media Finland.
“By sharing resources and best practices, we can jointly develop even more engaging digital propositions for the readers and at the same time strengthen the printed newspapers, which continue to have a significant role in the news consumption” she adds.
The deal helps round out Sanoma’s journalism business in Finland by adding strong regional newsrooms to its established national circulation papers.