Alma Media Corporation
Alma Media divests BNS
Alma Media's Kauppalehti Group has sold its news agency and media monitoring business Baltic News Service (BNS) to Oü Uudisvoog which is owned by Koha Capital Oü, an Estonian venture capital company. The parties have agreed not to disclose the transaction value. As a result of the transaction Alma Media will book a 0.8 MEUR sales gain into its first quarter 2014 profits.
BNS operates in Estonia, Latvia and Lithuania and had an annual revenue of 4.2 MEUR in 2013. BNS was founded in 1990 and it became part of Alma Media in 1998.
- BNS has performed well in its own business. However, the synergies it has had with other businesses of Kauppalehti Group have remained limited. We will now focus on offering business media and digital services for companies, says Juha-Petri Loimovuori, Senior Vice President of Kauppalehti Group.
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Alma Media in brief