- SanomaWSOY to operate in 17 countries
Sanoma Magazines International, a subsidiary of SanomaWSOY's magazine division Sanoma Magazines, will enter Serbia & Montenegro as of February 2005.
Sanoma Magazines SMG d.o.o. is a green field operation and the company's first launch is expected in spring 2005. Serbia & Montenegro fits into Sanoma Magazines International's strategy to expand in Central and Eastern Europe. The Serbian magazine market is underdeveloped and offers opportunities for Sanoma Magazines International's main strength: creating magazine concepts for local markets.
Mr Peter van Kol, Managing Director of Sanoma Magazines Zagreb, will also be responsible for Sanoma Magazines International's operations in Serbia & Montenegro. Publisher Mr Frank Hitzert will head the local operations of Sanoma Magazines in Serbia & Montenegro.
Serbia & Montenegro is a parliamentary democracy and comprises two republics: Serbia and Montenegro - each with its own government - and two autonomous provinces: Kosovo and Vojvodina. It is an emerging, middle-sized market with a population of 10.8 million and a potential growth market for Sanoma Magazines International.
Sanoma Magazines International is part of SanomaWSOY's magazine publishing division Sanoma Magazines B.V., which is one of the top five consumer magazine publishers in Europe. The division publishes some 230 magazines in nine European countries. Sanoma Magazines is a market leader in Belgium, the Netherlands, Finland, Hungary and the Czech Republic. It also operates in Croatia, Romania, Slovakia and Bulgaria.
SanomaWSOY is the leading media group in the Nordic region, with operations in 16 European countries. The Group is comprised of five divisions: Sanoma Magazines, Sanoma, SWelcom, WSOY, and Rautakirja. SanomaWSOY's net sales in 2003 were some EUR 2.4 billion.
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