Sanoma has reached an agreement to sell three Dutch magazine titles
Sanoma Corporation, Press Release, 17 July 2014 at 11:30 CET+1
Sanoma has come to an agreement with Pijper Media, a publisher in the Netherlands, to sell three of its Dutch magazine titles. Together with the titles 23 employees will transfer to Pijper Media.
As part of the strategic redesign communicated on 31 October 2013, Sanoma announced a significant restructuring in the Netherlands consisting of a magazine portfolio rationalisation and a reduction of approximately 500 FTEs. Sanoma will focus on 17 strong magazine brands and their extensions and specials, growing them in digital media, with e-commerce, events and by cooperating closely with the SBS TV-channels.
Sanoma Media Netherlands and Pijper Media have signed a sale and purchase agreement regarding three of the 32 magazine titles that were put under strategic review. The intended deal relates to the following titles: Nieuwe Revu, Panorama and Playboy Magazine. The divestment is in line with Sanoma’s strategy to focus its operations and divest selected ownerships.
The transaction is subject to a positive advice of unions and the Works Council and the consent of the licensor involved. In 2013, net sales of the divested titles totalled around EUR 11 million. The transfer of the three titles to Pijper Media is expected to be completed by the end of 2014.
Of the 32 Dutch magazine brands placed under strategic review, Sanoma already announced the sale of 19 magazine titles to New Skool Media on 6 June 2014. One title (Helden magazine) has been sold separately. Three titles have been sold to Pijper Media today. Three titles have been merged into existing magazines that will remain in Sanoma’s Dutch magazine portfolio. Two magazines (Nickelodeon and Tuinieren) will also remain with Sanoma but in a different form (as a line extension and online only respectively). The remaining last four glossy magazine titles will remain under strategic review. This process is estimated to be completed by the end of this year.
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