Press Release 16/05/2012 14:15
Nelonen Media, part of Sanoma Media Finland, is to extend its portfolio of radio stations, currently based on Radio Aalto and Radio Rock, by purchasing Radio SuomiPOP, Groove FM, and Metro FM. Following the acquisition, Nelonen Media will become the market leader in Finnish commercial radio.
Nelonen Media has signed an agreement to acquire Metroradio Finland Oy, which operates three radio stations, and Mediasales Finland Oy, which manages the stations' media sales. The companies in question employ a total of 31 people.
The Council of State has approved the transfer of the operating permits related to the stations in question to Nelonen Media. The intention is to close the acquisition by 1 June, at which time the businesses concerned will transfer to Nelonen Media.
Radio SuomiPOP is Finland's third-largest commercial radio station and Groove FM the eighth-largest, while Metro FM is the largest local radio station in Greater Helsinki. Nelonen Media already owns two national radio stations, Radio Aalto and Radio Rock.
The addition of the new stations will make Nelonen Media the clear market leader in Finnish commercial radio, with an approx. 28% share of the commercial radio listening. With five stations, Nelonen Media will reach close to 2 million listeners a week.
"This move to strengthen Nelonen Media's radio operations supports Sanoma's strategic goal of focusing on consumer media and being the market leader in all the media segments that are key to its overall business," says Anu Nissinen, CEO of Sanoma Media Finland, which includes Nelonen Media and Finland's leading magazine publisher, Sanoma Magazines.
"The addition of three new radio channels to our portfolio will give Nelonen Media a stronger presence in people's day-to-day lives in Finland and will offer advertisers a more dynamic range of opportunities for getting their messages across," says Hans Edin, President Nelonen Media. "Market leadership in commercial radio will give us the opportunity to grow our media sales and develop even more customer-driven, creative multimedia solutions that really leverage the breadth of our media offering."
Radio has a strong presence in people's everyday lives. Radio advertising grew by 11% in Finland in 2011, and January this year was the best-ever in terms of radio advertising sales. The number of hours people spend listening to the radio has remained stable in recent years.
"Metroradio's stations will complement our existing radio portfolio very well," says Kari Laakso, Director of Nelonen Media's radio operations. "SuomiPOP, Groove FM, and Metro FM have well-established station profiles and loyal audiences; while Radio Rock and Radio Aalto have both broken their audience records this year. Radio is very well-placed overall in today's changing media environment. As market leader, we believe that we will be able to help develop radio even further."
In addition to its radio business, Nelonen Media has eight television channels (Nelonen, Liv, Jim, Nelonen Pro 1 ja Pro 2, Nelonen Kino, Nelonen Perhe and Nelonen Maailma) and an online TV service, Ruutu.
Further information:
Anu Nissinen, CEO, Sanoma Media Finland, tel. +358 (0)10 707 7000
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Hans Edin, President, Nelonen Media, tel. +358 (0)40 050 0489 (#)
Kari Laakso, Director, Nelonen Media Radio, tel. +358 (0)40 502 5186 (#)
www.nelonenmedia.fi (http://www.nelonenmedia.fi/)
Sanoma Media Finland is a multichannel media house known for its impressive portfolio of brands. Our magazines, TV and radio channels, and online and mobile services reach Finns and provide an extensive range of exciting content and entertainment. Sanoma Media Finland comprises two businesses: Nelonen Media, which concentrates on TV and radio, and Sanoma Magazines, Finland's leading magazine publisher.
Sanoma Media Finland is part of the Sanoma Group, a strong European media group operating in diverse fields of media in over 20 countries.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Sanoma Oyj via Thomson Reuters ONE
