SanomaWSOY Corp. Press Release 25 Oct 2007 at 9:00
Rautakirja, part of the SanomaWSOY Group, will sell D+J Arena Hamburg GmbH, the owner of the multipurpose arena in Hamburg to the American Anschutz Entertainment Group (AEG), one of the world's leading providers of live entertainment, sport events and facilities. In 2006, net sales of D+J Arena Hamburg amounted to EUR 12.7 million. Currently the company employs 17 persons. The gain on the sale of asset will amount to some EUR 2 million. The deal is subject to the approval of the authorities of the city of Hamburg.
"The decision to sell our multipurpose arena in Hamburg is in line with Rautakirja's long-term strategy to focus on the distribution and retail sales of press products as well as specialised retail trade. As one of the leading sports and entertainment presenters in the world, AEG is a perfect new home for this business," says Erkki Järvinen, President and CEO of Rautakirja.
"With this takeover, the Anschutz Entertainment Group is expanding its commitment as an enterprise and increasing its strategic importance in the German market for live entertainment," says Detlef Kornett, Managing Director of the Anschutz Entertainment Group.
Senior Vice President
Finance and Administration
Erkki Järvinen, President and CEO, Rautakirja Oy, tel. +358 9 852 8401, +358 400 455 913
Rautakirja is the market leader in kiosk operations, press distribution, and movie theatres in Finland and in the Baltic countries, and press distribution in Romania. Moreover, it leads the Finnish and Estonian markets for bookstores, and from the beginning of 2007 also the Dutch market for press distribution. Its press distribution business and kiosk operations have further expanded into the Russian market. Rautakirja is part of the SanomaWSOY Group, which operates in versatile fields of media in over 20 European countries.
AEG is one of the leading sports and entertainment presenters in the world. AEG, a wholly owned subsidiary of the Anschutz Company, owns or controls a collection of companies including facilities such as STAPLES Center, Toyota Sports Center, Toyota Park, NOKIA Theatre Times Square, NOKIA Theatre at Grand Prairie, Hollywood's El Rey Theatre, Seattle's WaMu Theatre, Minneapolis' Target Center and The O2; sports franchises throughout the world including the Los Angeles Kings (NHL), Los Angeles Riptide (MLL) and three MLS franchises in addition to overseeing privately held management shares of the Los Angeles Lakers (NBA). For more information www.aegworldwide.com