As expected, the Basler Zeitung ends up in Zurich hands
Tamedia is taking over the Basler Zeitung from Zeitungshaus AG. In return, the Zurich-based publishing house is selling its holdings in Tagblatt der Stadt Zürich and other free newspapers, as Tamedia announced on Wednesday.
The current editor-in-chief of the Basler Zeitung, Markus Somm, is to be Basel Newspaper Somm will continue to lead the company for another six months after the takeover, the statement continues. Somm will then take a sabbatical and continue to work for Tamedia as a writer.
In the course of the second quarter of 2018, in return for the sale of the Basel Newspaper Zeitungshaus AG acquired Tamedia's 65 per cent stake in the Tagblatt of the City of Zurich take over. The existing editorial team will take over from the new owner, the release adds.
In addition, Tamedia is handing over the two free newspapers Furttaler and Rümlangerwhich it has owned 100 percent until now, to Zeitungshaus AG. There will also be a change of ownership in French-speaking Switzerland: the respective 50 percent stakes in GHI and Lausanner Cités will also be transferred from Tamedia to Zeitungshaus AG.
The sale especially of the Tagblatt of the City of Zurich to Zeitungshaus AG is "very difficult" for Tamedia, according to Pietro Supino, Chairman of the Tamedia Board of Directors. But the Basel Newspaperwhich has strong roots in northwestern Switzerland, is a "perfect fit" for the Tamedia papers in Bern and Zurich, Supino added.
The transaction is subject to the approval of the Competition Commission (Comco). (SDA)
