Uncertain ‘5 min’ fate

Swedish publishing group Bonnier recently sold Latvian newspaper group Diena to a local Latvia company Nedela S.A., led by Aleksandrs Tralmaks, former CEO of Diena and managing partner of Catella Corporate Finance. The sale included apart from leading Latvian newspaper Diena also the business daily Dienas Bizness. (Publicitas)

So far there is no news on “5 Min” the free daily that was part of the Diena group. 5 Min was launched in August 2005 and was distributed in different Latvian and Russian editions. Total circulation was around 85,000.

An item on Latvian website Delfi suggests that “5 min’ is still being published.

In December 2008 the paper moved from a 5 days schedule to 4 days a week, dropping the Monday edition. The ‘official’ website www.5min.lt is empty.

The Baltic Course reported that also Estonian entrepreneur Kalle Norberg, the chairman of Ekspress Group, Gunnar Kobin, and the founders of the company Skype were financially involved in the purchase.

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