OREANDA-NEWS. On January 29, 2007 under business reengineering framework, SCM has started building a publishing holding. Group’s print assets will be managed by Syegodnya Multimedia (SCM controls 100% of its authorized stock), reported the press-centre of SCM.

On the first stage of publishing holding creation, SCM has transferred ownership and management rights in several print assets of the Group to Syegodnya Multimedia.

“Being a professional investor, we are committed to a long-term growth of our media assets. I am certain there are all prerequisites for such a growth: significant potential of Ukrainian publishing business, a team of professional managers in Syegodnya Multimedia and other businesses, as well as commitment of shareholders to invest to our media assets on a long-term basis”, said Ilya Arkhipov, Director of Business Development. “Building a publishing holding will allow for the most efficient use of available human and infrastructure resources of the Group, improve effectiveness and competitiveness of the business, and thus strengthen leadership position today and help maintain it in future”.

In particular, SCM has handed over to Syegodnya Multimedia 88,69% of Priazovskiy Rabochiy Newspaper, 53.64% of Vecherniy Donetsk Newspaper, and 75% of Media-Press.

SCM strives to ensure further growth of publishing business with due regard to interests of employees, investors, and local citizens.

“I see a huge potential of all businesses incorporated in Syegodnya Multimedia Publishing Holding. Strategic plan of Syegodnya Multimedia development designed for 2005-2012 has been drawn up and will be submitted to shareholders for approval soon. The strategic plan allows for a significant growth of the new holding in all areas”, added Guillermo Schmitt, CEO of Syegodnya Multimedia.