Sanoma designated the price of Russian assets

The Finnish media company Sanoma Corp. has rejoiced the balance sheet of the Russian publishing house Sanoma Independent Media in € 75 million. The relevant data is contained in the presentation of the company following the results of the third quarter. According to the report, the revenue of the Russian ID in 2013 reached € 70 million, of which only € 30 million was directly to the share of the Finnish media group. In the fourth quarter, the holding plans to test the value of its Russian assets, mentioning the amendments to the Law of the Russian Federation “On Media”, which limits the share of foreign capital in the media up to 20%. Sanoma Independent Media is a Russian publishing house, which publishes 22 magazines, 6 newspapers with 30 websites and 9 mobile applications. The Sanoma Corporation acquired the IDDEPENDENT MEDIA in 2005 for € 142 million. The ID is a group of companies in which the Finnish Sanoma has different packages. The holding owns a 100% United Press company, which in particular Men's Health, National Geographic, publishes. In addition, Sanoma is on a shallow basis with the American Hearst Corp. Belongs the company "Fest Press", which produces Cosmopolitan, Esquire, Harper's Bazaar and a number of other glossy publications. Also, Finnish holding, together with the English FT Group (publisher The Financial Times) and the American News Corp. (The publisher of The Wall Street Journal) owns the third assets “Business News Media” - the publisher of the newspaper Vedomosti. The CEO of the Finnish media holding, Harry-Pecca, announced the intentions of the intentions of the company's intentions, announced in October 2013, explaining that the business in Russia is under strategic revision. After that, the company sold its assets in Hungary, Serbia, the Czech Republic. In the spring of 2014, the holding admitted that due to the changed political situation with the implementation of assets, problems arose. In the third quarter of 2013, revenue in Russia and Eastern Europe amounted to € 26.3 million compared with € 5.7 million for the same period in 2014. The possible buyer of Sanoma Independent Media is considered to be American investor Peter Gerevi, founder of STS Media and Maximum radio station. Earlier, the businessman confirmed Bloomberg that he was really interested in Russian assets. At the same time, Forbes interlocutors said that Gervi was buying Sanoma assets for the purpose of the further resale of Gazprom-Media Holding or the National Media Group. On October 15, the law entered into force on restriction of foreign participation in the Russian media entered into force. According to the document, citizens of other countries and Russians with dual citizenship are prohibited from being media founders in Russia, and the share of foreign shareholders in the authorized capital of the Russian media will not be able to exceed 20%.