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Radio Helsinki in financial trouble, may shut down

The financially-troubled independent FM station Radio Helsinki may soon be completely silenced, unless a new owner buys the station, according to an interview with the station's largest stakeholder in Image magazine.

kuva radio helsingin etusivulta
Radio Helsinki. Image: Yle

Radio Helsinki's largest stakeholder Tomi Ruotimo told Image magazine that the 16-year-old radio station's days may be numbered if no one wants to buy it.

The eccentric, playlist-free community station Radio Helsinki, which has had a difficult time economically for years, owes tens of thousands of euros to the music licensing union Teosto, among other debts.

At the beginning of the year the station found itself in financial trouble when the owners were unable to pay the rent.

The station's shareholders are planning to meet on September 19 to listen to Ruotimo's assessment of the situation.

Last year, the company which owns and operates Radio Helsinki, Kaupunkitarinat Oy, suffered losses of some 330,000 euros with a turnover of 810,000. Ruotimo told the magazine the station has outstanding debts of between 200,000 and 300,000 euros.

He told the magazine he doesn't like the idea of the station declaring bankruptcy but conceded that it would be a way to sort out the debt.

Ruotimo also said he paid out some 50,000 euros from his own pocket towards the station last spring.

"I'm quite wealthy, but no multi-millionnaire," he said.

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