Chapter 7: Sanoma Ventures: innovating by attracting entrepreneurial talent
Sanoma started in 1913 as a Finnish company that published magazines (Sanoma means ‘message’ in Finnish). The Dutch company, Sanoma Media, was created in 2001, when the Sanoma Group acquired the magazine division of the Dutch publishing company VNU, along with its subsidiary ‘ilse media’. It has a market position in every segment of the media industry: popular magazines, television broadcasting, events, consumer media, e commerce, sites and apps. Sanoma Group is a media and learning company that provides information and entertainment across many European countries. Sanoma Media has pursued a takeover campaign in recent years, including acquiring SBS Broadcasting Group in 2011. Taking over companies was becoming expensive, however, yet Sanoma still wanted to continue investing in growth and innovation. This produced a need for finding creative ways of doing that.
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