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Sanoma Corporation, Investor news, 1 June 2021 at 11:15 EET
Sanoma acquires remaining minority shares of its festival and events business
Sanoma has increased its ownership in the festival and events company Nelonen Media Live Ltd. from 60% to 100%. The seller is the founder of N.C.D. Production Ltd. of which Sanoma acquired a majority stake in 2018.
Nelonen Media Live is Finland’s largest festival and event organiser having approximately 20 events in its annual programme. Due to the coronavirus pandemic, no events were organised in 2020 and its net sales were close to zero (2019: EUR 35 million). Depending on the restrictions related to large events, Nelonen Media Live hopes to arrange approximately half of the annual events during the summer season 2021, possibly still with limitations related to the number of participants.
Kaisa Uurasmaa, Head of Investor Relations and Sustainability, tel. +358 40 560 5601
Sanoma is an innovative and agile learning and media company impacting the lives of millions every day.
Our learning products and services enable teachers to develop the talents of every child to reach their full potential. We offer printed and digital learning content as well as digital learning and teaching platforms for primary, secondary and vocational education, and want to grow our business across Europe.
Our Finnish media provide independent journalism and engaging entertainment also for generations to come. Our unique cross-media position offers the widest reach and tailored marketing solutions for our business partners.
Today, we operate in eleven European countries and employ close to 5,000 professionals. In 2020, our net sales amounted to approx. 1.1bn€ and our operational EBIT margin excl. PPA was 14.7%. Sanoma shares are listed on Nasdaq Helsinki. More information is available at www.sanoma.com.