The majority shareholder of the Vogt Schild Medien Group, the Gottlieb and Hans Vogt Foundation, has decided to sell its stake to Aargauer Zeitung Medien with retroactive effect from January 1, 2009. The takeover is intended to ensure the long-term development of the Solothurner Zeitung, according to a statement from AZ Medien and the majority shareholder. Christian Müller, head of Vogt-Schild Medien, will retire in May - a successor has not yet been appointed.
The publishing house previously held a 35 percent stake in Vogt-Schild. The takeover of the Vogt-Schild Medien Group had been a goal for a long time, CEO of AZ Medien Peter Wanner told SDA. Synergies are available above all in IT and the advertising market. A project group is now working out the possibilities for cooperation. There are no plans to cut jobs as a result of the takeover. However, a savings program is being worked out independently of the takeover.
The Solothurn Vogt-Schild Group includes the daily newspaper Solothurner Zeitung, the Grenchner Tagblatt, the Langenthaler Tagblatt and the Berner Rundschau. These papers are already working together as part of the Mittelland-Zeitung.
Government agrees to change the purpose of the foundation
The Solothurn cantonal government approved the takeover of the Vogt-Schild Medien Group on Tuesday morning. At its meeting, the Solothurn cantonal government had to decide on the change to the foundation purpose of the previous majority owner.
Board of Directors reduced in size
As a result of the takeover, the Board of Directors of Vogt-Schild will be reduced by one to four members, according to a statement from AZ Medien and the majority shareholder. Jürg Schärer (Chairman), Peter Wanner (Delegate) and Georg Müller (Member) will join the Board. The subsequent addition of a representative from the canton of Solothurn to the Board of Directors remains open, the press release continues.