Technology Industry
Industry: Email Alert RSS FeedFINLAND'S ALMA MEDIA SELLS RADIO-TELEVISION DIVISION TO BONNIER.(Bonnier group)
Tech Europe, February, 2005
Shareholders in the Finnish media group Alma Media approved the sale of its radio-television division on January 31 to Sweden's Bonnier group, rejecting a rival offer from the Norwegian Schibsted group. Gathered for an extraordinary general meeting in Helsinki, shareholders in Alma Media voted by 98% in favour of the sale to Almanova, the company set up by Bonnier and co-bidder Proventus Industrier (investment), which both hold stakes of 48.4% in Alma Media.
Alma Media controls several papers as well as Finland's leading commercial television channel MTV3, which posts annual turnover of more than Euro 200 million. The group also controls 23.4% of capital in the private Swedish channel TV4 -Bonnier holding 28% and Schibsted 21.1%-, stakes in the private radio...
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