Sanoma Magazines International has sold its subsidiary Sanoma Magazines Slovakia to Ecopress. The transaction marks Sanoma Magazines International's withdrawal from the Slovakian business-to-business magazine market. Sanoma Magazines International maintains an active presence in online media in Slovakia through a portfolio that will be managed from the Czech Republic by Sanoma Magazines Praha.
The divesture of Sanoma Magazines Slovakia is an important step for Sanoma Magazines in its strategy to focus on core products and core markets. The company is actively developing its portfolio in consumer magazines and online media and aims to grow market leading positions in all its operating markets. In Slovakia, Sanoma Magazines' portfolio was limited to magazines and magazine extensions (like conferences) in the business-to-business market. In this market, Sanoma Magazines Slovakia developed into a strong market leader under Sanoma Magazines International's ownership.
Ecopress, founded in 1992 and based in Bratislava, is best known for publishing Slovakia's leading financial newspaper Hospodarske Noviny (hnonline.sk). The company is a subsidiary of the Czech publisher Economia. By acquiring the business of Sanoma Magazines Slovakia, the company extends its Slovak business with business-to-business publishing.
Sanoma Magazines International remains present in Slovakia through home deco portal Tvojdom.sk and website building service eStranky.sk. Management and development of the Slovak online media portfolio will be handled by Sanoma Magazines Praha from the Czech Republic. Sanoma Magazines Praha intends to fortify the online media portfolio in the future with other properties.
Sanoma Magazines International is part of the Sanoma Group's magazine division, Sanoma Magazines.