STT, Finland's only news agency and one of the oldest in the world, has announced the discontinuation of its information and photo services in 2027 following many years of financial difficulties.
After restructuring negotiations, the STT board of directors announced the decision to end the agency's activities in the fields of information and photography, which will take place on March 31, 2027.
CEO Kimmo Laaksonen stated in his announcement: 'Next Sunday, STT will celebrate its 139th anniversary. I consider the closure of our information and photo services a tragedy for Finnish society as a whole.'
According to public broadcaster Yle, Finland will thus become one of the few Western countries without its own news agency.
The restructuring will affect 95 jobs, leading to the elimination of 89, including 68 journalists. Thirty urgent contracts will also expire.
STT will retain the corporate messaging distribution service, which employs seven people. The agency also announced its intention to 'explore possibilities for commercial exploitation of its archives and developed technology.'
Chairwoman of the Finnish Journalists' Union, Marianne Varmavuori, characterized the announcement as 'destructive.' In her statement, she expressed regret: 'Its role in producing and distributing reliable information in Finland is irreplaceable. I am deeply shocked that the state and media companies intend to allow our news agency to close.'