Helsinki Media Company Oy which belongs to SanomaWSOY Group increased its holding in Channel Four, Finland, i.e. Oy Ruutunelonen Ab, to 61.01 % by purchasing the 445 shares (10.99 %) held by VBH Television. The price of the transaction will not be disclosed. The acquisition does not impact Helsinki Media's result.
After the transaction, the shareholders of Ruutunelonen are Helsinki Media (61.01%), Egmont Holding A/S (25.01%) and TS-Yhtymä Oy (13.98).
Channel Four, a nation-wide TV-channel, started its operations in 1997 and had net sales of FIM 134 million in 1998. On 11 March 1999, Ruutunelonen?s operating license was extended until the end of 2006. On 23 June 1999 the company was also granted a digital TV operating license for ten years.
Today, about 80% of Finnish households can follow Channel Four's broadcasts. Channel Four is particularly popular with young urban viewers; it captures 30% of the 10-44 year old viewers at prime time between 6-11 pm. In 1999, the Channel's share of the Finnish commercial television advertising was about 17%
Channel Four?s Chairman of the Board is Mr. Tapio Kallioja, President, Helsinki Media. The President of Channel Four is Mr. Juha-Pekka Louhelainen.
VBH Television Oy is owned by VIP Holding Oy, Firma Brutto Oy and Headline Oy. Its Board members are Kalervo Kummola, Lasse Lehtinen, Arto Tuominen and Jarmo Porola.
Investor Relations and Group Communications
DISTRIBUTION: Helsinki Stock Exchanges, Principal media