Finland's Sanoma sells Dutch magazine titles

HELSINKI, June 6 Fri Jun 6, 2014 2:18am EDT

HELSINKI, June 6 (Reuters) - Finnish media group Sanoma on Friday said it has reached a deal to sell 19 magazine titles in the Netherlands to a local company New Skool Media.

Loss-making Sanoma did not disclose the deal's value but said annual sales of the titles totalled 38 million euros ($52 million).

Sanoma said seven more titles were under review in the country.

The group has been hit hard by shrinking advertising sales in Finland and the Netherlands, and last year it announced a plan to cut non-core assets, magazine titles and jobs. ($1 = 0.7345 Euros)

(Reporting By Jussi Rosendahl. Editing by Jane Merriman)