Alma Media Corporation Press release 20 November 2024 at 9.40 am
ALMA NEWS MEDIA REALISES CHANGES IN PRODUCT PORTFOLIO - CHANGE NEGOTIATIONS TO DECISION
The change negotiations initiated by Alma News Media on 30 September 2024 have been completed. The strength of the personnel is reduced by 20 person-years. Most of the reductions will be achieved through resignation agreements. A new role was found for some of the personnel with the change of job description. The maximum need for reduction announced at the beginning of the negotiations was 30 person-years.
Optio, Fakta and Mediuutiset, the printed supplements of Kauppalehti newspaper, will close down by the end of the year. Subscribers of these magazines will be contacted directly in the coming weeks.
The revenue of discontinued products in 2024 is approximately EUR 2 million. As a result of the changes, the segment's relative profitability is expected to strengthen. As a result of the personnel arrangements, Alma Media will record an estimated expense of 0.7 MEUR, which will be reported as an adjusted item in the fourth quarter result.
Kauppalehti is designing new kinds of digital content concepts. Kauppalehti online and Kauppalehti app will cover a more diverse range of in-depth journalism alongside financial news and the stock exchange. Kauppalehti will continue publishing topics familiar from Optio and Fakta. From 2025 Kauppalehti will have a new set of content for the weekends.
Alma News Media sets up a new editorial team focusing on cars in both Iltalehti and Kauppalehti. The aim is to publish leading car focused content with the highest readership in Finland. The selection of articles will cover test drives, general and industry news. Mikrobitti magazine will become part of consumer media with the aim of expanding the readership in digital topics.
Alma News Media aims to grow its digital media business and, in particular, to sharpen the news coverage of digital Kauppalehti and Iltalehti and to strengthen their value to subscribers and advertisers.
For more information:
Juha-Petri Loimovuori
Director, Alma News Media tel. 0500-511036