Postimees MBO Could Save the Printed Paper, Says Expert (1)

Photo: Postimees/Scanpix
8/14/2013 4:29 PM
Category: Economy

Head of the Estonian Newspaper Association Mart Raudsaar said that the sale of the Eesti Meedia media company to its current Estonian management could save the company from going all-out online.

Äripäev reported on Tuesday that Eesti Meedia, which is owned by Norwegian media conglomerate Schibsted, could be purchased by the current management.

Eesti Meedia controls Postimees, the Kroonpress printing house and Kanal2, with stakes in Õhtuleht and Express Post.

Raudsaar told ERR radio today that Schibsted has said it plans to shut down its printed press operations by 2017 and concentrate on classified advertising and more modern forms of media.

“If we look at it [the sale] from an economic or media company management viewpoint, then it can bring about interesting developments. During the last decade Eesti Meedia and Ekspress Group have split local media into two and there is equilibrium. But Kadastik [CEO of Eesti Meedia] could be tempted to change something, or Ekspress Group and its major shareholder Hans H. Luik could become more aggressive,” Igor Rõtov, head of Äripäev said.

Rõtov said he believes that any kind of changes could benefit consumers.

Luik told Eesti Päevaleht today that foreign owners have began to leave post-Soviet states, with Schibsted already having closed two newspapers in Lithuania.

Luik, the founder of Ekspress Group, added that Estonian owners are more dependable, as they have, in his words, nowhere to run and must stay and compete.


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