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Sanoma divests TV stake in Belgium
June 17, 2014 / 6:02 AM / 3 years ago

Sanoma divests TV stake in Belgium

HELSINKI, June 17 (Reuters) - Finnish media company Sanoma on Tuesday said it has agreed to sell its one-third stake in Belgian TV company De Vijver Media to local gruop Corelio and private equity firm Waterman&Waterman for 26.5 million euros ($36 million).

The deal is part of the loss-making Sanoma’s restructuring. Earlier this month it announced a deal to sell 19 magazine titles in the Netherlands.

The group has been hit hard by shrinking advertising sales, and last year it announced a plan to cut non-core assets, magazine titles and jobs. ($1 = 0.7345 Euros) (Reporting By Jussi Rosendahl; Editing by Richard Pullin)

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