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YLE sells real estate to cut costs

The Finnish Broadcasting Company YLE plans to sell a large part of its real estate in the next five years to help shore up its budget. YLE’s Iso Paja ("big workshop") building at YLE headquarters in Helsinki’s Pasila district is one of the many properties for sale.

Yleisradion Iso Paja Helsingin Pasilassa.
Yleisradion keskus Iso Paja Helsingin Pasilassa. Image: Seppo Sarkkinen / Yle

The cash-strapped public broadcaster aims to shrink its real estate holdings by 40 percent, resulting in millions of euros in annual savings.

Ismo Silvo, who oversees YLE properties, says he is not concerned about YLE losing landmark buildings.

“Our image has to be based in quality programming, not walls,” he says.

YLE plans to later rent space in the buildings it is selling.

Plans are meanwhile underway for YLE to build more appropriate facilities for radio and television production.

Sources: YLE