Media group seeks buyer for cinema and bookshop chains

Media group Sanoma is planning to sell its Finnkino cinema chain and Suomalainen Kirjakauppa book outlets, according to Mergermarket, an independent M&A intelligence service headquartered in London.

In December, Mergermarket said that potential buyers must submit their initial offer for Finnkino by the end of January 2011. Mergermarket disclosed Sanoma’s plans to sell its cinema chain and book outlet business in October 2010.

Finnkino is Finland’s biggest cinema chain, with 15 cinema complexes in 11 cities. The Suomalainen Kirjakauppa chain operates 61 Suomalainen Kirjakauppa book outlets, two university book shops, two Reader’s paperback bookshops, a specialist book shop for upper secondary school students, and an online bookshop.