SWelcom to Merge Nelonen, HTV, and Werne into One Company
SWelcom, SanomaWSOY's electronic media division, will merge its TV operations into one company as of 1 January 2006. Oy Ruutunelonen Ab, which controls the commercial TV channel Nelonen, the cable-TV company Helsinki Television Ltd (HTV), and Tuotantotalo Werne Oy, offering technical services for TV and sound productions, will continue their operations under one company.
The merger simplifies SWelcom's legal structure as well as increases the efficiency of the Division's operations. At the same time, it improves the company's ability to respond to the challenges in increasing integration of electronic communications both in commercial TV as well as pay-TV operations.
Nelonen, HTV, and Werne will continue as independent business units of the merged entity. The Division's parent company SWelcom Oy owns 95.3% of the company and will continue to offer business support services to the business units. TS Group will continue to be an owner in the merged company but its ownership will decrease to 4.7%. SWelcom's subsidiary, 2ndhead Oy, a provider of digital content and communication solutions, will remain as an independent company.
President of SWelcom division, Tapio Kallioja will also be the President of the merged company. The Division's present Management Group will continue. In addition to Tapio Kallioja, it includes Juha-Pekka Louhelainen from Nelonen, Anu Nissinen from HTV, Pirkko Jokinen from 2ndhead, SWelcom's Senior Vice President, Technology, Pekka Jaakola and SWelcom's Senior Vice President, Administration, Marja-Leena Tuomola. The merger does not have any direct effects to personnel.
SWelcom is SanomaWSOY's electronic media division, focusing mainly on commercial TV and cable-TV activities. SWelcom's net sales in 2004 totalled EUR 117.5 million.
Further information: Tapio Kallioja, President, SWelcom, tel. +358 10 707 1111