CEO: Postimees Group to turn a profit in four years
The Chairman of the Board of the Postimees Group wrote the group plans to turn a profit in four years time but until then the company is keeping the money from the sale of adverts.
Chairman Andrus Raudsalu wrote on Saturday that at the end of October the Postimees Group reported a loss of almost €9 million.
"I said at the time that we were lucky that we have an owner who was prepared to bear such a loss in the name of free press," Raudsalu wrote.
Raudsalu also said the crisis of confidence that erupted between Postimees' editorial office and the management of the Postimees Group at Christmas, which saw several senior journalists leave the company, has been overcome and peace of mind has been restored in the editorial office.
In the new year, Raudsalu will allow Postimees to separate news and entertainment media, which, he said, will allow Postimees to better reflect on community events and initiate debates.
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Editor: Helen Wright
