Estonia, Investments, Markets and Companies

All TV channels in the portfolio of UP Invest's media group AS Postimees Grupp will be transferred to the new company, including the television station Kanal 2. UP Invest will retain controlling stake in the new company, which will continue working in close cooperation with Postimees Grupp, and the media units' joint structure for advertising sales will be preserved.

Juri Pihel, CEO of the new company, said that the main challenge at present is maintaining and developing the strengths of traditional TV and also making use of the opportunities provided by new media. 

"Television is currently doing very well and we'll do our best to ensure this also remains the case in the years to come," he said.

Pihel told that the company is currently not planning to make any changes in the TV channels' content.

"There will definitely not be any changes in terms of channels or programs in the near future. The objective for the time being is achieving budgetary clarity," Pihel noted. "We're continuing with the existing employees and management," he added.

Postimees Grupp CEO Andrus Raudsalu said that advertising customers attach great importance to the constant development of TV stations.

"We believe that in cooperation with Juri and Risto, we'll be able to realize it to the greatest possible extent and thereby offer even more attractive solutions and bring new and exiting formats to our viewers," Raudsalu said.