Former Crossair founder Moritz Suter has acquired 100 percent of Basler Zeitung Medien (BZM) from Tito Tettamanti and Martin Wagner. He is now the sole owner of the media company and publisher of Basler Zeitung and the free newspaper Baslerstab. There will also be a shake-up at Board of Directors level: Martin Wagner and Bernhard Burgener are stepping down and Suter, as Chairman of the Board, is currently the only member of the Board. He will now ask new people to join the Board of Directors, he said at a media conference called at short notice. However, he did not mention any names.
Somm enjoys Suter's trust
But one thing is clear: Wagner, a media lawyer, will no longer even serve as legal counsel to Suter. "We want a clean separation," said Suter. The mandate of Christoph Blocher's consulting firm Robinvest will also be terminated, and BZM's headquarters will be moved back from Zug to Basel. "The aim is to calm the situation at BaZ and restore credibility with customers, suppliers and subscribers," said Suter. In particular, it is important to regain the trust of the banks "so that they will continue to give us loans." However, Suter is expressly holding on to Editor-in-Chief Markus Somm, who has lost the trust of the BaZ editorial team in recent weeks. "Mr. Somm has my trust and I will work hard to ensure that he and the editorial team become a good team," said Suter confidently. Somm has brought a breath of fresh air to BaZ, which he personally supports. "Together with Mr. Somm, however, I am committed to ensuring that BaZ does not become an SVP, SP or CVP newspaper, but a platform for all opinions and topics."
100 million in debt and still operating in the red
Suter did not mince his words about the company's situation: firstly, BZM has debts of more than 100 million Swiss francs, and secondly, it is still operating in the red. Suter even spoke of a "seven-figure loss" this year. This is surprising, as Wagner had always claimed that the company would be back in the black by the end of 2010. According to Suter, however, this does not even seem to be the case if the extraordinary income from the sale of five local papers last summer is taken into account. Nevertheless, Suter considers the state of BaZ alone to be "positive", while he described the in-house printing plants - newspaper printing and the specialist printing plant Birkhäuser + GBC - as a "clubfoot". And he made no secret of the fact that he would be open to a sale. "But I can't present a ready-made solution today," he admitted. He did not want to rule out cooperation talks with Peter Wanner's AZ Medien, but he did not want to give them top priority either.
"Like a virgin to a child"
He did not give a specific answer to the question of whether there would be a reduction in staff. For the time being, he would take on the crew he had. He also emphasized that he did not yet know the company well. He met Tettamanti for the first time last Friday in Lugano, and the purchase agreement was then signed on Monday evening. "I came to the Basler Zeitung like a virgin to a child," he said with a laugh. "Because I didn't want to watch the company being driven into the ground."
This was not the only criticism of his two predecessors. Suter described the decision to engage the company Robinvest with Blocher as "not exactly happy". He also let it be known that he considered Wagner's return expectations of 10 percent next year to be grossly inflated. In an interview with DRS-Regionaljournal, he calculated that only Tamedia would achieve a return of around 10 percent thanks to 20 Minuten. The NZZ achieved around 5 percent, and the ZürichseeZeitung, where Suter was on the Board of Directors for 18 years, achieved 3 percent. "There's no point in demanding something that nobody believes in, even internally," he said.
Midwife for 100 percent Basel solution
At the press conference, former BZM Chairman of the Board Martin Wagner admitted that his project had failed. Turning BaZ into a newspaper in Basel and for Basel would only be possible if it met with broad acceptance. "With the sale, we are admitting that the duo of Wagner and Tettamanti can no longer be the basis of this company," he said. However, Wagner did not want to speak of a defeat: He still sees himself "as the midwife for a 100 percent Basel solution". Moritz Suter agreed with him: "Messrs. Wagner and Tettamanti have indeed shown strength, because with the sale they are making a fresh start possible." It's like a space rocket: Once the first stage has burned down, the next one is ignited, said the Basel aviation pioneer.
Publisher President Hanspeter Lebrument praises Suter's commitment
In an initial statement, Hanspeter Lebrument, President of the Swiss Media Association, praised Suter's commitment to BZM "as a good liberating blow". If a newspaper is threatened with a loss of credibility, the involvement of a local investor or a local family is "certainly a good solution". This is certainly better than what happened in Lucerne or Eastern Switzerland, where everything was sold to Zurich.
Markus Knöpfli