Sanoma has reached an agreement to sell three Belgian magazine titles
Sanoma Corporation, Stock Exchange Release, 26 May 2015 at 11:00 CET+1
Sanoma makes a strategic choice to focus in Belgium on the domains Women and Home & Deco. De Persgroep acquires titles Humo, Story and TeVe Blad. In addition, the license for Vitaya will be transferred to De Persgroep. Together with the titles 65 employees (57 FTEs) will transfer to De Persgroep.
At the end of last year, Sanoma decided to run its media activities in Belgium and the Netherlands as a strategic business unit called Sanoma Media BeNe. As a result, and following careful consideration, the decision has been taken to focus on the domains of Women and Home & Deco in Belgium – those areas in which Sanoma has a clear expertise in both countries. In these domains Sanoma aims for a sustained healthy development and a successful extension to digital platforms, which will require investment.
Because of this strategic choice, Sanoma has chosen to sell Humo, Story and TeVe Blad to De Persgroep. The license for the monthly magazine Vitaya will also be transferred to De Persgroep. In 2014, net sales of the divested titles totalled around EUR 50 million.
At the closing Sanoma will recognize a non-recurring capital loss of around EUR 13 million, which includes a write-down of goodwill amounting to around EUR 31 million. The transaction is subject to the approval of competition authorities.
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Sanoma’s Investor Relations, Olli Turunen, tel. +358 40 552 8907
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