Ringier withdraws from the Swiss Media Association

MEDIA The media company Ringier has announced that it is leaving the association with immediate effect. The reason is irreconcilable differences.On Monday, SRG, Swisscom and Ringier provided information about a new joint venture: SRG, Swisscom and Ringier are bundling the marketing of their media offerings and advertising platforms in a new, joint marketing organization. Swisscom will contribute its technological expertise and the marketing rights for its TV and online platforms. Ringier and SRG contribute the marketing rights for their complementary, high-reach media offerings. It is the declared aim of the partners to sustainably strengthen the Swiss advertising market in the face of globalized competition. A central aspect of the new company is that its services will be open to all advertising clients, agencies as well as other providers of advertising inventory.The following day, intensive discussions on this matter were held at a closed-door meeting of the Executive Committee of the Swiss Media Association (VSM).The Swiss Media Association is of the opinion that advertising revenues from SRG are not necessary. Ringier does not share this drastic stance.Ringier CEO Marc Walder: "In fact, the Swiss Media Association is calling for a ban on advertising for the SRG. In other words, no more advertising on their TV stations either. This is a radical demand that Ringier cannot stand behind. We are therefore withdrawing from the association with immediate effect. I regret Ringier's unavoidable withdrawal due to this attitude of the association. "The planned joint venture between SRG, Swisscom and Ringier is subject to approval by the Competition Commission WEKO and DETEC/ OFCOM. Subject to this approval, business activities are scheduled to start in the first quarter of 2016.