Styria withdraws from Slovenian free media market

The foundation for independent and high-quality journalism is financial success. Despite the considerable number of readers and accesses for žurnal24 (239,000 readers daily), žurnal (319,000 readers weekly) and zurnal24.si (401,000 unique clients), it is not possible to achieve profitability for these free media considering the lasting, weak advertising market. Even the implementation of alternative business models as well as conversion into a paid newspaper were no options considering the current general economic situation.

"It is a very difficult decision for us to make. Ultimately, no other decision could be made from a financial perspective", explains CEO of Styria Media Group AG, Markus Mair.

"The products of žurnal achieved outstanding reader market values and established themselves at the top of the Slovenian media scene. We set new standards in journalism, and our employees are among the best in the country. Nevertheless, we have to accept that the model of a free newspaper simply does not work effectively, even with top performance by all parties involved in Slovenia", adds board member Klaus Schweighofer, who is responsible for Styria's foreign markets.

With the present step, Styria Media Group AG is withdrawing from the free media business and is concentrating on developing its digital market position. Styria is market leader both with bolha.com, the marketplace portal, as well as with the job portal MojeDelo.com. In addition, the print business will remain a priority via the investment in the daily newspaper group Dnevnik.

Alongside Austria and Croatia, Slovenia will continue to be a key geographic market of Styria Media Group AG in the future as well.

Slowenien zählt auch in Zukunft neben Österreich und Kroatien zum geographischen Kernmarkt der Styria Media Group AG.