SanomaWSOY Corp. Press Release 19 Dec 2007 at 15:30
Rautakirja, part of the SanomaWSOY Group, has signed a Letter of Intent with the Swiss publishing company Ringier regarding the creation of a joint venture for the Romanian press distribution market. The goal of the joint venture is to actively contribute to the development of the Romanian press distribution market. Rautakirja has been present in the Romanian market since it acquired press distribution company Hiparion in July 2004.
Press distribution is one of the four international growth areas of the SanomaWSOY Group - in addition to magazines, educational publishing and digital media.
Information or comments will not be provided on the progress of the process until a final conclusion has been reached.
SANOMAWSOY CORPORATION
Matti Salmi
Senior Vice President
Finance and Administration
www.sanomawsoy.fi
www.sanomawsoy.fi/Investors
Hiparion Distribution was established in 1999. It is the leading press distributor in Romania with a market share of some 40%. Hiparion distributes 360 newspaper and magazine titles directly to 900 points-of-sale and through its sub-wholesalers; it reaches some 5,500 points-of-sale.
Rautakirja is also the market leader in kiosk operations, press distribution and movie theatres in Finland and the Baltic countries. Additionally, it leads the Finnish and Estonian markets for bookstores, and also the Dutch market for press distribution. Its press distribution business and kiosk operations have also expanded into the Russian market.
Rautakirja is part of SanomaWSOY, the leading media group in the Nordic region operating in versatile fields of media in over 20 European countries. The Group has five divisions: Sanoma Magazines, Sanoma, SanomaWSOY Education and Books, SWelcom, and Rautakirja. In 2006, the Group employed over 18,000 people and its net sales were some EUR 2.7 billion.