STT; Finnish news agency on the verge of ending!

Finland’s STT News Agency Faces Uncertain Future as Restructuring Threatens Operations!

HELSINKI — Finland’s national news agency, Finnish News Agency STT, is facing a major restructuring that could bring its current business model to an end and put up to 95 jobs at risk.

STT said it is launching change negotiations covering virtually its entire workforce after years of financial losses in its news and picture agency operations.

A maximum of 95 positions could be eliminated. Of those affected, 68 work in text or picture journalism, while others are employed in development, business and other support functions.

STT Chief Executive Officer Kimmo Laaksonen said the agency had failed to achieve the cost savings needed to put its operations on a sustainable financial footing.

“The costs are still higher than the revenues,” Laaksonen said in a statement.

According to STT, the agency also concluded that it had been unable to find investors or customers willing to participate in developing the business on a sustainable basis.

A long-running financial crisis

The latest restructuring follows an organisational overhaul carried out at the turn of 2025–2026, after Sanoma’s news media stopped using STT’s services.

STT has traditionally been owned by its customers. Sanoma Media Finland has been its majority owner since 2018, while Finland’s public broadcaster Yle holds a 1.7% stake.

The agency provides news and picture services to dozens of Finnish media organisations.

STT’s possible closure would mark a major change in Finland’s media landscape. The agency has operated since 1887, providing news material used by newspapers, broadcasters and other media across the country.

Government support put on hold

The announcement also prompted an immediate response from the Finnish government.

The Ministry of Transport and Communications said it was suspending preparations for state funding for STT.

The government of Prime Minister Petteri Orpo had previously indicated that it wanted to secure the continuation of STT’s operations and had been prepared to provide a one-off state grant of €1.05 million to support the development of the business.

Minister of Transport and Communications Lulu Ranne said STT’s financial and operational difficulties had been known for some time and that the latest announcement did not come as a surprise.

Ranne described the possible end of STT’s traditional operations as regrettable, while also saying that the agency had not been able to adapt sufficiently to changes in the media industry.

Journalists warn of wider consequences

The Finnish Union of Journalists has expressed serious concern about the possible dismantling of STT.

Union chair Marjaana Varmavuori said the development was particularly worrying at a time when disinformation, information influence operations and hybrid threats are major concerns.

She argued that Finland should strengthen rather than weaken structures providing reliable information.

Varmavuori also warned that the disappearance of STT could have consequences beyond the agency itself, potentially affecting other news organisations that rely on its services.

Employees shocked by the announcement

STT shop steward Hannu Aaltonen said employees were deeply disappointed by the announcement.

According to Aaltonen, staff had only recently completed lengthy change negotiations and worked to build an entirely new organisational structure.

Now they face another round of negotiations.

Aaltonen described the situation as a dark day for Finnish journalism and questioned the decision to dismantle a national news agency at a time of heightened information warfare and hybrid threats.

Keskisuomalainen prepares to replace STT services

The potential end of STT is also forcing its customers to consider alternatives.

Pekka Mervola, journalist and executive at Keskisuomalainen and a member of STT’s board, said the possible closure of the agency was deeply unfortunate.

Keskisuomalainen has relied extensively on STT and regarded it as a trusted foundation for news coverage.

The company is now preparing to replace some STT services with its own journalism, including material produced through Uutissuomalainen.

“An agency that began in 1887 may be reaching the end of its road,” Mervola said.

What happens next?

The change negotiations will determine the future of STT’s employees and provide further clarity on whether the agency can continue in its current form.

For Finland’s media industry, however, the question is broader than the fate of one company: can a national news agency built around shared ownership and cooperation remain financially sustainable in an increasingly fragmented and rapidly changing media market?