Downturn hits Estonian market
The global economic crisis is having a direct effect on the media industry in Estonia.
According to BBN, Kalev Media, the operator of Kalev Sport, the country’s first TV sports channel, has run into serious financial difficulties.
As a result, it will aim to save EEK3.5 million (€223,640) a month from February by stopping to publish 10 magazines.
At this stage the future of Kalev Sport, which was launch at the beginning of 2008 and commanded an audience share of 0.6% as of last December, is understood to be secure.