Margus Linnamäe's investment company UP Invest OÜ will create a new company for developing its television business the owners of which will include as strategic partners television media experts Jüri Pihel and Risto Rosimannus.
All television channels in the portfolio of Linnamäe's AS Postimees Grupp will move under the new company, including Estonia's leading commercial channel Kanal 2.
UP Invest will keep the controlling stake in the venture, while television will maintain close cooperation with Postimees Grupp. The media units' joint advertising sales structure will also be retained, news agency BNS that belongs to the same group wrote.
Jüri Pihel, set to run the new business, said that the main challenge today is to maintain and develop the strengths of traditional television while going along with opportunities created by new media. "Television is doing great today and we will do everything in our power to make sure that remains the case years from now."
CEO of Postimees Grupp Andrus Raudsalu said that constant development of television networks is important for advertising clients. "We believe that working with Jüri and Risto, we can maximize that potential and offer even more attractive solutions and bring voters new and exciting formats."
Editor: Marcus Turovski