DPG Media to acquire Sanoma Media Netherlands for $507m.

DPG Media, a Belgian publishing company, agreed to acquire Sanoma Media Netherlands, a Dutch unit of Sanoma. The deal values the company at $507m. The transaction is subject to customary closing conditions and is expected to be completed latest during Q3 2020. “Divestment of Sanoma Media Netherlands is an important step in Sanoma’s strategic transformation from a predominantly media company into a combination of a growing European-based learning company and the leading cross-media company in Finland. It provides approx. $442m headroom for M&A, enabling us to capture growth opportunities focusing especially on the learning business. With the divestment, Sanoma’s exposure to print magazine business, which as a stand-alone business is difficult to convert to digital, will be reduced,” Susan Duinhoven, Sanoma President and CEO.