Sanoma Magazines International enters Serbia & Montenegro

Sanoma Magazines International enters Serbia & Montenegro

- SanomaWSOY to operate in 17 countries

Sanoma Magazines International, a subsidiary of SanomaWSOY's magazine division Sanoma Magazines, will enter Serbia & Montenegro as of February 2005.

Sanoma Magazines SMG d.o.o. is a green field operation and the company's first launch is expected in spring 2005. Serbia & Montenegro fits into Sanoma Magazines International's strategy to expand in Central and Eastern Europe. The Serbian magazine market is underdeveloped and offers opportunities for Sanoma Magazines International's main strength: creating magazine concepts for local markets.

Mr Peter van Kol, Managing Director of Sanoma Magazines Zagreb, will also be responsible for Sanoma Magazines International?s operations in Serbia & Montenegro. Publisher Mr Frank Hitzert will head the local operations of Sanoma Magazines in Serbia & Montenegro.

Serbia & Montenegro is a parliamentary democracy and comprises two republics: Serbia and Montenegro - each with its own government - and two autonomous provinces: Kosovo and Vojvodina. It is an emerging, middle-sized market with a population of 10.8 million and a potential growth market for Sanoma Magazines International.