Margus Linnamäe becomes the sole owner of Estonian Media

Margus Linnamäe becomes the sole owner of Estonian Media

On August 26, Margus Linnamäe announced that he owns 100% of the Estonian Media. Mart Kadastik, Meelis Luht, Andres Kull and Toomas Issak sell their stakes in Estonian Media to UP Invest, a company owned by Linnamäe; Estonian Media will be led by Sven Nuutmann and Postimees Janeck Uibo.

“We will take this topic step by step, we will definitely look for a common ground between the companies in the group. Business integration is definitely one of the possible parts that we look at so we can do even better journalism and entertainment. Certainly there are overlaps that will allow you to work together more and find more synergy, ”said Sven Nuutmann.

The Estonian Media employs over a thousand people.The group includes Postimees, Kanal 2, radio stations Kuku, Elmar and Uuno, local publications Pärnu Postimees, Sakala, Järva Teataja, Virumaa Teataja and Valgamaalane, advertising portals kv.ee, osta.ee and soov.ee, printing house Kroonpress and different news and advertising portals in Latvia and Lithuania.

The Estonian Media Group earned a profit of EUR 5.7 million in turnover of EUR 78.4 million last year.

Source: Postimees