Weko also gives AZ Medien and NZZ the green light for merger

Following an in-depth investigation, there are indications that the formation of the joint venture between AZ Medien and NZZ could create or strengthen a dominant position in the reader markets, writes the Weko. This concerns in particular the daily newspapers in the areas of Solothurn and Aargau as well as the magazine advertising market in the building services sector. There are also indications of the creation or strengthening of a joint dominant position with Basler Zeitung in the reader market for daily newspapers in the Basel area and with the Tamedia Group and the Ringier Group in the reader market for Sunday newspapers.

However, the creation of the joint venture is not expected to enable the parties to eliminate effective competition in the aforementioned markets, the Weko added. After the merger, other strong competitors would remain, in particular Tamedia and Ringier. In addition, the merger would not lead to any relevant change in the competitive situation on the market for Sunday newspapers.

The two companies AZ Medien and NZZ Media Group will have equal stakes in the new stock corporation CH Media. They have agreed on joint management: The board of directors of the joint venture will be chaired by Peter Wanner. Jörg Schnyder, Chief Financial Officer of NZZ Media Group, will be Vice Chairman and Head of the Finance Committee. The CEO of the new company will be Axel Wüstmann, currently CEO of AZ Medien; the Publishing Director will be Pascal Hollenstein, currently Head of Publishing for the regional media of the NZZ Media Group..

The new company CH Media will be an independent media company with strong regional roots. The aim is to ensure the independence and further development of the regional media brands in a challenging market environment.(hae/pd)