Media giant Sanoma is set to buy the local news outlets owned by rival Alma Media, including 15 newspapers in southern, central and western Finland.
The deal is subject to approval from the competition authorities and will also include Alma Media’s print services provider, Alma Manu. The sale price is 115 million euros.
The papers currently have some 190,000 subscribers, with around 14 percent of those subscriptions entirely digital.
That compares to a figure of 27 percent digital-only subscriptions for Sanoma’s flagship newspaper Helsingin Sanomat.
Sanoma says the outlets will continue as independent news providers with their own editors.
The papers it’s acquiring have 365 employees in total, and Sanoma estimates that it can save around 13 million euros on their current operating costs.
Sanoma’s turnover in 2018 was 1.315 billion euros, and the company has operations in several European countries.