The Finnish News Agency STT will end its news and photojournalism operations in March 2027, resulting in the loss of 89 jobs and marking the end of nearly 140 years of news reporting and distribution in Finland.
The Helsinki-based agency, founded in 1887, confirmed the planned shutdown following restructuring negotiations with staff representatives. The decision follows years of financial difficulties and growing uncertainty about the company’s ability to continue operating in an increasingly challenging media market.
STT announced last month that its board was planning to cease operations, a development that Finland’s Union of Journalists, Journalistiliitto, described as “shocking”. The agency said the decision was driven by long-standing financial losses and difficult operating conditions.
All 95 permanent employees were included in the restructuring negotiations. According to Yle, six employees will be offered the opportunity to remain with the company in non-journalistic roles, leaving 89 jobs set to be lost as the news and photojournalism units close.
Not all of STT’s activities will end. Its Viestintapalvelut communications unit, which distributes press releases, will continue operating after March. The unit employs seven people, who were excluded from the restructuring negotiations.
The planned closure follows a major setback last year when Sanoma Media Finland, STT’s largest shareholder, announced plans to significantly reduce its use of the agency’s news and photo services. The announcement triggered an earlier round of restructuring and raised serious questions about STT’s financial future.
The Finnish government subsequently offered the agency approximately one million euros in state aid. However, STT did not accept the funding because the amount was considered insufficient to secure the company’s continued operations.
Since its establishment in 1887, STT has played a central role in Finland’s media industry. Its news reports and photographs have been used extensively by major Finnish media outlets, making the agency an important source of information for newspapers and other news organisations across the country.
The closure has raised concerns about the future of reliable, shared news production in Finland, particularly as media organisations face financial pressure and reassess their spending on external news services.
Marjaana Varmavuori, chair of the Union of Journalists in Finland, described the decision as devastating. In a press release, she said STT was more than just another media company, arguing that its role in producing and distributing reliable information in Finland could not be replaced.
The planned shutdown will bring an end to STT’s news and photojournalism services after almost 140 years, while its press release distribution business is expected to continue beyond March 2027.
