New owner for One FM and Lausanne FM

Private radio stations The previous majority owner of local radio stations One FM (Geneva) and Lausanne FM, Pio Fontana, has sold a large proportion of his shares to Geneva-based Antoine de Raemy, according to the business newspaper L'Agefi, which cites a letter to the stations' employees. He previously owned around 70 percent of the shares, from which L'Agefi calculates a purchase price of six to seven million francs. All that is known about the new owner de Raemy is that he has made a career at the department store group Manor. Fontana is parting with his radio stations for health reasons.