SanomaWSOY's magazines sector, Sanoma Magazines, has decided to set up a joint venture in Croatia. An agreement covering the establishment of the limited liability company, Sanoma Magazines Zagreb d.o.o., has been reached between the four parties involved: Sanoma Magazines International B.V., Adriatic Net Investors Ltd., Iskon Internet d.d., and Vladimir Tomic. Sanoma Magazines International has a 65% holding in the new company, which will take over one of Iskon's magazines founded in 2001.
Peter van Kol (41), a long-time manager with Sanoma Magazines, has been appointed Sanoma Magazines Zagreb's Managing Director.
The joint venture in Croatia represents the first international expansion to be carried out by Sanoma Magazines since it became operational on October 1, 2001. This followed SanomaWSOY's acquisition of VNU's Consumer Information Group and its merger with SanomaWSOY's magazine publisher, Helsinki Media.
Sanoma Magazines is Europe's fifth-largest publisher of consumer magazines and, with the addition of Croatia, is active on 10 markets across Europe with some 300 titles in its portfolio. Sanoma Magazines International is responsible for magazine publishing in the Czech Republic, Hungary, Romania, Slovakia, and the United Kingdom. Sanoma Magazines' other markets are: Belgium, Finland, The Netherlands, and Sweden.
SanomaWSOY is the Nordic region's leading media group, with pro forma net sales (2000) of EUR 2.26 billion, and some 18,000 employees. In addition to Sanoma Magazines, which is the Group's largest sector, SanomaWSOY includes four other sectors: Finland's leading newspaper publisher, Sanoma; the TV and new media group, SWelcom; Finland's leading publisher, WSOY; and Rautakirja, which operates in the retail, distribution, and entertainment fields in Finland and the Baltic countries.
SANOMAWSOY CORPORATION
Raija Kariola
Vice President
Investor Relations and Group Communications
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Helsinki Exchanges
Principal media