Caution at the Rhine knee
Newspapers: The Hagemann family has learned from the NZZ-PubliGroupe deal: The majority shareholder wants a right of first refusal for the P stake in the BaZ.
Newspapers The Hagemann family has learned from the NZZ-PubliGroup deal: the main shareholder wants a right of first refusal for the P-share in BaZ An astonishing annual result presented by Basler Zeitung Medien (BZM) last week: although consolidated sales fell below the 300 million mark for the first time in the 2003/04 financial year by 3.2 percent, operating income was more than nine times higher than in the previous period. However, BZM is under no illusions. "The result is not so much a result of increased income, but rather the consequence of some drastic measures in the cost area," admits BZM CEO Beat Meyer. 5.5 million francs were saved in the past financial year alone, most of which was in the parent company. The first-time savings at the BaZ editorial office, whose annual budget was cut by 5 million to 20 million francs, are not even fully reflected in the figures, and despite falling revenues, the printing center with the new newspaper press was implemented (investment costs: 85 million francs) as was the BaZ relaunch. Both with initial successes: Thanks to various new orders, the web press that went into operation in the summer is already running at 80 percent capacity. And since the BaZ relaunch on September 4, the 645 subscriptions canceled so far have been offset by around 1,100 new fixed subscriptions and a good 5,000 trial subscriptions. "That's more than we expected," comments Meyer.
He is optimistic about the conflict over the new cultural advertisements (WW 36/04): "At least people are talking to each other again," he says. In the meantime, however, the matter has come to a head: on November 1, cultural workers largely boycotted the BaZ agenda. In addition, a new committee is calling for an NZZ split for Basel via a petition.
While the parent company had to accept a decline in turnover of 11 million francs, BZM remained stable in terms of customer pressure at 118 million francs. The free newspaper Baslerstab reduced its turnover by 600,000 francs to 28.6 million francs and, according to Meyer, Radio Basel One is on budget with a turnover of 2.4 million francs, but is still in the red.
Concerned about rumors surrounding PS Negotiations between PubliGroupe and BZM about a new cooperation agreement have been ongoing since the middle of the year. Where do they stand today? "We are in the middle of discussions," says Meyer. He doesn't want to say any more. However, he confirms that the deal between P and NZZ was also "very surprising" in Basel. And the rumors that P could sell its BZM shares (currently 37 percent) in return for a further lease are "troublesome and worrying" for Meyer. However, P has clearly stated its commitment to BZM "and we have no reason to doubt this." In the contract negotiations, however, "this important point will be addressed and a clause will be requested that secures the Hagemann family a right of first refusal as the majority shareholder. Meyer did not want to say whether there was already a pre-emptive right to the P shares.
Markus Knöpfli
He is optimistic about the conflict over the new cultural advertisements (WW 36/04): "At least people are talking to each other again," he says. In the meantime, however, the matter has come to a head: on November 1, cultural workers largely boycotted the BaZ agenda. In addition, a new committee is calling for an NZZ split for Basel via a petition.
While the parent company had to accept a decline in turnover of 11 million francs, BZM remained stable in terms of customer pressure at 118 million francs. The free newspaper Baslerstab reduced its turnover by 600,000 francs to 28.6 million francs and, according to Meyer, Radio Basel One is on budget with a turnover of 2.4 million francs, but is still in the red.
Concerned about rumors surrounding PS Negotiations between PubliGroupe and BZM about a new cooperation agreement have been ongoing since the middle of the year. Where do they stand today? "We are in the middle of discussions," says Meyer. He doesn't want to say any more. However, he confirms that the deal between P and NZZ was also "very surprising" in Basel. And the rumors that P could sell its BZM shares (currently 37 percent) in return for a further lease are "troublesome and worrying" for Meyer. However, P has clearly stated its commitment to BZM "and we have no reason to doubt this." In the contract negotiations, however, "this important point will be addressed and a clause will be requested that secures the Hagemann family a right of first refusal as the majority shareholder. Meyer did not want to say whether there was already a pre-emptive right to the P shares.
Markus Knöpfli
