Deal or no deal in Stäfa
Publishers: Although everyone is talking to each other again, it still looks like there will be a showdown between the *Tages-Anzeiger* and the *Zürichsee-Zeitung*.
Publishers Everyone is now talking to everyone again. Nevertheless, it looks like a showdown between Tages-Anzeiger and Zürichsee-Zeitung: the Zurich press deal seemed as good as done and dusted. But ever since Theodor Gut, Chairman of the Board of Zürichsee Medien AG in Stäfa, announced via HandelsZeitung that he was still in talks with various interested parties, speculation about possible alternative scenarios to the announced sale to NZZ has been gaining momentum again.from Gut's perspective, Tamedia's expansion into the home territory of Zürichsee-Zeitung (ZSZ) is "damage to the corridor", triggered by the pact between PubliGroupe and NZZ. It can be assumed that this build-up of pressure plus the NZZ's declarations of intent, which Stäfa apparently regarded as insufficient, that it wanted to support the independence of the regional newspapers and take a leading position at national level, triggered a turnaround. Gut, who said at the end of September that he wanted to move closer to the NZZ and not lean on the Tages-Anzeiger under any circumstances, now qualifies this statement: "We have never denied contacts with Tamedia. Theoretically, anything is still possible." Neither NZZ nor Tamedia wanted to comment on what this new openness of the bride means for the two pressing potential grooms.
Kafkaesque dodgesDecisive for the seemingly Kafkaesque wedding preparations in the countryside is Gut's pre-emptive right to the PubliGroupe stake of 45 percent in Zürichsee Presse AG. With this, the Lausanne-based company helped ZSZ out of a financial crisis at the end of the nineties and to obtain liquid funds. Today, the share package, half of which the advertising group intends to transfer to the NZZ subsidiary FPH, is primarily of strategic importance. Gut did not summon the Tagi spirits himself. But he could appease them by exercising his right of first refusal and selling the stake on to Werdstrasse. The condition: In return, Tamedia would have to refrain from the Horgen offensive and instead launch it in the Zurich city area, in Winterthur or in the Limmat Valley.
However, a return seems unlikely, especially since an editorial cooperation between the Tages-Anzeiger and the ZSZ, which is intent on independence, is hardly conceivable. In addition, Tamedia wants to work together with Südostschweiz publisher Hanspeter Lebrument in the advertising business. This signal has probably been understood in Stäfa (see WW 39/04). And finally, it is questionable whether PubliGroupe would even return its shares in Zürichsee Presse AG to Gut under such circumstances.
Explosive for the NordostkombiIf the ZSZ were to cooperate with the Tages-Anzeiger, the loose alliance between the four regional newspapers and the other Nordostkombi members Schaffhauser Nachrichten and Thurgauer Zeitung would probably also fall apart. The NZZ, which wants strong and independent regional newspapers as a bulwark against the expansive Tamedia, would also be irritated. "What one of us does has consequences for all of us," says Theodor Gut, aware of the situation.
And this is more unstable than ever. On the one hand, a 36 percent share package in Oberländer is still up for sale, and on the other, Landbote is negotiating with NZZ and Tamedia as well as Stäfa in its search for new printing options. Oberländer, Unterländer and ZSZ print together at the Oetwil printing center, a joint venture whose technological upgrade cost the parties involved 30 million Swiss francs. They would also like to see the fourth Landzeitung, the Landbote, as a partner. "After all, it is the biggest investment in 12 years and will further strengthen the rural newspapers," explains ZSZ Managing Director Erland Herkenrath. At the same time, he emphasizes that all parties involved are committed to the contracts in the long term and want to fulfill them.
Without an agreement between ZSZ and Tages-Anzeiger, there would be a nerve-wracking showdown on the left bank of the lake between two editorial teams fighting for prime time in a catchment area that is too small. Tamedia would undoubtedly be better equipped financially for this. Those familiar with the situation on the ground consider the Tagi's chances to be good, as the loss of three or four thousand subscribers on the left bank of the lake would already hit the ZSZ hard.
In the wake of the upheavals in the Zurich press landscape, everyone is talking to everyone else. Hanspeter Lebrument is also among the interested parties. However, the Südostschweiz publisher is not interested in acquiring a stake: "We would never buy the 22.5 percent stake in Zürichsee Presse AG, nor would we buy the Oberländer's share package," he emphasizes. However, he does not rule out cooperation. Especially not if this would ease the competitive situation on the Obersee with the ZSZ-owned March-Höfe-Zeitung, the Fridolin and the Einsiedler Anzeiger. Lebrument sees no acute need for action. "I'll wait and see and take my chance when it presents itself."
Chronicle of an announced transferPubliGroupe and NZZ announced their intention to cooperate this summer. From January, the PubliGroupe subsidiary Publicitas will exclusively manage the NZZ advertising pages and, in return, will contribute half of the shares in Ackeret AG (Zürcher Unterländer) and half in Zürichsee Presse AG (Zürichsee-Zeitung) to the NZZ subsidiary Freie Presse Holding (FPH).
Tamedia went on the counter-offensive at the end of September with the announcement of its regional growth strategy for the Tages-Anzeiger, after various unsuccessful attempts in the past to tie the Zurich regional newspapers (Zürichsee-Zeitung, Unterländer, Oberländer, Landbote) closer to the Tagi. A first regional editorial office for the Horgen district on the left bank of the lake is to produce a daily tabloid supplement from March. The editorial location decision between Wädenswil and Horgen has reportedly not yet been made. Other regions, including the city of Zurich, are to follow. (rw)
Who rules on Lake Zurich? Südostschweiz is also involved in the battle for market power.
René Worni
Kafkaesque dodgesDecisive for the seemingly Kafkaesque wedding preparations in the countryside is Gut's pre-emptive right to the PubliGroupe stake of 45 percent in Zürichsee Presse AG. With this, the Lausanne-based company helped ZSZ out of a financial crisis at the end of the nineties and to obtain liquid funds. Today, the share package, half of which the advertising group intends to transfer to the NZZ subsidiary FPH, is primarily of strategic importance. Gut did not summon the Tagi spirits himself. But he could appease them by exercising his right of first refusal and selling the stake on to Werdstrasse. The condition: In return, Tamedia would have to refrain from the Horgen offensive and instead launch it in the Zurich city area, in Winterthur or in the Limmat Valley.
However, a return seems unlikely, especially since an editorial cooperation between the Tages-Anzeiger and the ZSZ, which is intent on independence, is hardly conceivable. In addition, Tamedia wants to work together with Südostschweiz publisher Hanspeter Lebrument in the advertising business. This signal has probably been understood in Stäfa (see WW 39/04). And finally, it is questionable whether PubliGroupe would even return its shares in Zürichsee Presse AG to Gut under such circumstances.
Explosive for the NordostkombiIf the ZSZ were to cooperate with the Tages-Anzeiger, the loose alliance between the four regional newspapers and the other Nordostkombi members Schaffhauser Nachrichten and Thurgauer Zeitung would probably also fall apart. The NZZ, which wants strong and independent regional newspapers as a bulwark against the expansive Tamedia, would also be irritated. "What one of us does has consequences for all of us," says Theodor Gut, aware of the situation.
And this is more unstable than ever. On the one hand, a 36 percent share package in Oberländer is still up for sale, and on the other, Landbote is negotiating with NZZ and Tamedia as well as Stäfa in its search for new printing options. Oberländer, Unterländer and ZSZ print together at the Oetwil printing center, a joint venture whose technological upgrade cost the parties involved 30 million Swiss francs. They would also like to see the fourth Landzeitung, the Landbote, as a partner. "After all, it is the biggest investment in 12 years and will further strengthen the rural newspapers," explains ZSZ Managing Director Erland Herkenrath. At the same time, he emphasizes that all parties involved are committed to the contracts in the long term and want to fulfill them.
Without an agreement between ZSZ and Tages-Anzeiger, there would be a nerve-wracking showdown on the left bank of the lake between two editorial teams fighting for prime time in a catchment area that is too small. Tamedia would undoubtedly be better equipped financially for this. Those familiar with the situation on the ground consider the Tagi's chances to be good, as the loss of three or four thousand subscribers on the left bank of the lake would already hit the ZSZ hard.
In the wake of the upheavals in the Zurich press landscape, everyone is talking to everyone else. Hanspeter Lebrument is also among the interested parties. However, the Südostschweiz publisher is not interested in acquiring a stake: "We would never buy the 22.5 percent stake in Zürichsee Presse AG, nor would we buy the Oberländer's share package," he emphasizes. However, he does not rule out cooperation. Especially not if this would ease the competitive situation on the Obersee with the ZSZ-owned March-Höfe-Zeitung, the Fridolin and the Einsiedler Anzeiger. Lebrument sees no acute need for action. "I'll wait and see and take my chance when it presents itself."
Chronicle of an announced transferPubliGroupe and NZZ announced their intention to cooperate this summer. From January, the PubliGroupe subsidiary Publicitas will exclusively manage the NZZ advertising pages and, in return, will contribute half of the shares in Ackeret AG (Zürcher Unterländer) and half in Zürichsee Presse AG (Zürichsee-Zeitung) to the NZZ subsidiary Freie Presse Holding (FPH).
Tamedia went on the counter-offensive at the end of September with the announcement of its regional growth strategy for the Tages-Anzeiger, after various unsuccessful attempts in the past to tie the Zurich regional newspapers (Zürichsee-Zeitung, Unterländer, Oberländer, Landbote) closer to the Tagi. A first regional editorial office for the Horgen district on the left bank of the lake is to produce a daily tabloid supplement from March. The editorial location decision between Wädenswil and Horgen has reportedly not yet been made. Other regions, including the city of Zurich, are to follow. (rw)
Who rules on Lake Zurich? Südostschweiz is also involved in the battle for market power.
René Worni
