Finnish News Agency STT is facing a possible end to its current news and photo operations in March as long-running financial losses push the organisation into restructuring talks covering up to 95 employees.
The Helsinki-based agency said its existing business model is no longer financially sustainable, putting the future of an organisation with roots dating back to 1887 in doubt. STT provides news and photography to media organisations across Finland and also distributes Finnish news internationally through partnerships with foreign news agencies.
The restructuring talks involve almost all STT employees except those working for STT Viestintapalvelut, the agency’s press release distribution business. As many as 95 positions could be affected. Among them are 68 employees working in text and photo journalism, while others are involved in services, development, business operations and information technology.
STT said its news and photo agency business has been making losses for several years, with operating costs continuing to exceed revenue. Chief executive Kimmo Laaksonen said the agency could not realistically maintain the current business with its existing customer base.
“Maintaining STT’s news and picture agency business with its current customer base is not realistic,” Laaksonen said in the agency’s announcement.
The latest restructuring follows organisational changes carried out around the turn of 2025 and 2026, after Sanoma’s news outlets stopped using STT’s services. According to STT, those measures did not produce enough savings to put the business on a sustainable financial footing.
The agency has also spent the past year trying to broaden its ownership. Sanoma Media Finland became STT’s majority owner in 2018, but has since sought other news organisations willing to share ownership and take responsibility for developing the agency. STT said Sanoma had offered to give up its stake for a nominal price, but no new ownership group emerged.
STT chairman Petteri Putkiranta said rebuilding the news agency would require long-term investment as well as owners prepared to support the business through the process. No organisation or group has so far been willing to take on that role, according to STT.
The financial difficulties do not extend to STT Viestintapalvelut, which employs fewer than 10 people and distributes corporate press releases. The unit remains profitable and has helped offset some of the losses generated by STT’s news and photo operations.
The Finnish state had also been preparing a one-off development subsidy of slightly more than EUR 1 million for STT. The agency said the proposed funding would not have been enough to finance the transformation needed to make the news business viable, even if the full amount had been awarded.
The Ministry of Transport and Communications has now suspended preparations for the subsidy while STT’s owners decide whether the agency’s operations will continue.
Transport and Communications Minister Lulu Ranne said STT’s financial and operational difficulties had been known for some time and that the announcement was therefore not unexpected.
The possible closure would have consequences beyond STT’s employees. Dozens of Finnish media organisations rely on the agency for basic news coverage, photography and overnight reporting. If STT’s news operation ends, those customers would have to find alternative sources or produce more of the material themselves.
The agency also plays a role in taking Finnish news to international audiences through cooperation with foreign news agencies, meaning its disappearance would affect how some Finnish stories are distributed outside the country.
The Union of Journalists in Finland has called for action to prevent the news agency from closing. Union chair Marjaana Varmavuori said the loss of STT would weaken an important part of Finland’s news infrastructure, particularly at a time when information operations have become part of the wider security environment.
“The shutdown of STT is absolutely shocking news in the current security situation,” Varmavuori said, arguing that Finland should strengthen structures supporting reliable news distribution rather than weaken them.
The union also warned that local and regional media could face higher costs or reduced access to services if they have to replace STT’s news, photography and overnight coverage. It said the financial impact could add further pressure to news organisations already operating in a difficult media market.
STT vice-chairman Pekka Mervola linked the agency’s difficulties to wider changes in Finland’s media industry. He cited the state’s reduced use of STT services and the lack of media subsidies as factors affecting the agency’s position.
STT’s board and principal shareholders have agreed that restructuring is necessary. The immediate question is whether the news and photo operation can continue beyond the current financial model. If it closes in March, STT Viestintapalvelut will remain in operation because it is outside the restructuring process.
The decision now rests with STT’s owners as they consider whether a new structure, ownership arrangement or financial solution can be found before the planned end of the current news and photo business.
