Leading news website sold to Sanoma

  • 2011-09-19
  • TBT Staff

RIGA -- Apollo.lv, one of Latvia's leading online news portals, will be sold to Finnish media group Sanoma. The news portal was previously owned by state telecommunications company Lattelecom.

"I am convinced that Sanoma, as significant European media player, is the optimal owner for Apollo.lv. Sanoma's competence enables considerable development of the Apollo.lv news service regarding its content and media sales," says Juris Gulbis, CEO of SIA Lattelecom.

"The acquisition continues the growth strategy of Sanoma News in the digital media and strengthens our position in Latvia where we already operate a car classifieds service Auto24.lv. Sanoma's solid competence in online news and media sales will help Apollo to strengthen its position in the Latvian online news market”, says Pekka Soini, CEO of Sanoma News.