Finnish government supports RTS with EUR 1.05 million for restructuring

O state aid to the Finnish news agency TTS may provide temporary stability and time for restructuring, but it does not solve the challenges, Lusa told the spokesperson of the Finnish Ministry of Transport and Communications.

The Finnish government had drawn up a financial support plan for STT (Suomen Tietotoimisto) worth EUR 1.05 million, but by the end of September the executive suspended the package after the news agency announced a vast restructuring plan, admitting that it could close.

Asked by Lusa if that amount is sufficient for the news agency to continue to operate, official source of the Finnish Ministry of Transport and Communications states that “state aid could provide temporary stability and time for restructuring, but would not solve the fundamental challenges faced by the STT”.

In this sense, “the long-term viability of the news agency depends on its ability to reformulate its operations, develop new services and business lines, as well as ensure a long-term commitment by its owners and customers,” adds the spokesman.

In fact, the state aid “does not intend to be a permanent solution, but rather to offer temporary stability and time for the TST and its shareholders to make the necessary changes to ensure the future of the organization,” stresses the same source.

About whether the government is waiting for the decision of the largest shareholder of the news agency – Sanoma Media Finland – the spokesman says that the future of the TST “is largely dependent on the decisions of its owners/shareholders.”.

Now, the “central question is whether the shareholders remain committed to supporting the future development of the TST”.

The government “did not set deadlines for shareholders”, stresses the same source, pointing out that “STT is currently” restructuring its operations and “the current business model may come to an end if a viable solution is not found.”.

In this sense, “the question is whether shareholders can find a structure of ownership and a sustainable business model before the restructuring process is completed.”.

As a non-shareholder, the Finnish Government is not an active part of the negotiations.

On 30 September, the Finnish news agency STT announced that it would proceed with a significant restructuring of its operations, resulting from its persistent lack of profit, which could lead to the closure of news and photography operations.

The STT was founded in 1887, which makes it one of the oldest news agencies in the world. STT's Communication Services division was established in 2004 and in 2010 the Finnish news agency acquired Lehtikuva, Finland's oldest photography agency, founded in 1951.

The restructuring may lead to the closure of the current operations of STT, but STT Communication Services, responsible for the distribution service of press releases to STT Info, will not be included in those negotiations, and there are no plans to change its operations.

The operation of the STT in the news and images “has long been deficient” and the structure and supply of products have undergone a recent restructuring in the change from 2025 to 2026, when the media group Sanoma, which is also its largest shareholder, has ceased to subscribe to the services of the Finnish news agency.

If the TST closes activities, Finland will become an exception among Western countries, most of which still maintain a national news agency.