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)