The Ministry of Transport and Communications pauses preparations for STT state aid

The government has taken what measures it has available to ensure that STT can continue its operations. The Orpo Government is committed to a EUR 1.05 million state aid package. “We have been aware of STT’s financial and operational difficulties for a long time, and this decision was not a surprise. The government has been ready to provide moderate support for STT to enable the company to develop and continue to operate. However, the owners have not been able to agree on a direction for the company, and the market has not shown sufficient demand for its services”, according to Minister of Transport and Communications Lulu Ranne. “STT’s work is rich in tradition, and it is a shame that this tradition might end. It unfortunately looks like STT has been unable to respond to the transformation of the media sector”, continues minister Ranne. STT also stated that it is initiating change negotiations for its entire personnel. STT’s news and photograph business has been unprofitable for a long time. The government has also provided them prior support. In 2018, STT received EUR 1.5 million in state aid. “Now, we are imposing a time-out on preparing the new aid package until the STT owner...