Sanoma Media Finland completed the acquisition of Alma Media’s regional news media business last Thursday, Alma Media announced in a news release. The €115 million ($125 million U.S.) deal was first announced in February and cleared by the Finnish Competition and Consumer Authority on March 19.

The news media business consists of Alma Media Kustannus Oy, which publishes leading regional newspapers Aamulehti and Satakunnan Kansa, as well as thirteen local papers in Tampere region, Western Finland and Central Finland. The division also includes printing services provider Alma Manu Oy and leading horizontal Oikotie.fi.

In total, the division’s newspapers have around 185,000 subscribers, with about 15% of the subscriptions digital-only. Subscription sales account for 60% of the news media business’s net sales, with advertising sales accounting for the other 40%.

Sanoma acquired the business as part of its strategic focus on its three core businesses: news, entertainment and b-to-b marketing services. For its part, Alma Media has been directing attention toward developing its digital and international businesses, rather than its regional news operations.

Sanoma is a leading media group focused on the Nordic countries. It operates in Finland, the Netherlands, Belgium, Poland and Sweden. The group, which is listed on the Helsinki Stock Exchange, is among the top-five magazine publishers in Europe.

Alma Media is Sanoma’s main competitor in the Finnish media market. The company is headquartered in Finland, but also operates in other Nordic countries, the Baltics and Central Europe. Alma Media is also listed on the Helsinki Stock Exchange.

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