Facts is discontinued
The news magazine Facts will be discontinued at the end of June. This was decided by Tamedia's Board of Directors and Management Board after intensive discussions about the economic situation and prospects of the weekly magazine.
The news magazine Facts will be discontinued at the end of June. This was decided by Tamedia's Board of Directors and Management Board after intensive discussions about the economic situation and prospects of the weekly magazine, as reported by the Zurich-based media company Tamedia. The decision is subject to the participation rights of the affected employees. The last issue of Facts, which was launched in 1995, is expected to appear on Thursday, June 28, 2007.
In the twelve years of its existence, Facts only made no losses in one year. Even several redesigns of the news magazine did not bring the hoped-for economic success. In recent months, Tamedia's Board of Directors and Management Board have also examined various options for the future of Facts and conducted negotiations with potential partners. Unfortunately, none of the options examined proved to be economically viable. The Board of Directors and Management Board of Tamedia therefore see no prospects for the news magazine in the diverse and highly competitive weekly market.
As a result of the discontinuation of Facts, a total of 53 jobs will be cut in the editorial department and in Tamedia's joint magazine publishing house. For the 64 employees affected, other jobs will be sought within the existing media and Tamedia's planned projects. In the event of redundancies, Tamedia will provide the affected employees with additional benefits. For example, in the case of an ordinary notice period of three months, these provide for an extension of the notice period by a maximum of three months in the event of unemployment or the compensation of any difference in salary for a maximum of eight months until the end of May 2008.
Tamedia's magazine publishing house will be reorganized in autumn 2007. The previous centralized publishing structure for all magazines will be replaced by a publishing manager model for the titles Annabelle and Schweizer Familie. Tamedia is offering subscribers to Facts the conversion of their current subscriptions into subscriptions to the other Tamedia titles. For titles with a lower subscription price compared to Facts, the subscription period will be extended accordingly. All subscribers will be informed in writing within the next few days.
The advertising customers of Facts will be offered the opportunity to publish already booked advertisements at attractive conditions in other Tamedia titles. All decisions concerning the discontinuation of Facts are subject to the results of the employee consultation.
In recent weeks, there have been repeated rumors that Facts is to be discontinued or sold to Der Spiegel. Der Spiegel will be published with a Swiss supplement for the first time on Monday, June 25.
In the twelve years of its existence, Facts only made no losses in one year. Even several redesigns of the news magazine did not bring the hoped-for economic success. In recent months, Tamedia's Board of Directors and Management Board have also examined various options for the future of Facts and conducted negotiations with potential partners. Unfortunately, none of the options examined proved to be economically viable. The Board of Directors and Management Board of Tamedia therefore see no prospects for the news magazine in the diverse and highly competitive weekly market.
As a result of the discontinuation of Facts, a total of 53 jobs will be cut in the editorial department and in Tamedia's joint magazine publishing house. For the 64 employees affected, other jobs will be sought within the existing media and Tamedia's planned projects. In the event of redundancies, Tamedia will provide the affected employees with additional benefits. For example, in the case of an ordinary notice period of three months, these provide for an extension of the notice period by a maximum of three months in the event of unemployment or the compensation of any difference in salary for a maximum of eight months until the end of May 2008.
Tamedia's magazine publishing house will be reorganized in autumn 2007. The previous centralized publishing structure for all magazines will be replaced by a publishing manager model for the titles Annabelle and Schweizer Familie. Tamedia is offering subscribers to Facts the conversion of their current subscriptions into subscriptions to the other Tamedia titles. For titles with a lower subscription price compared to Facts, the subscription period will be extended accordingly. All subscribers will be informed in writing within the next few days.
The advertising customers of Facts will be offered the opportunity to publish already booked advertisements at attractive conditions in other Tamedia titles. All decisions concerning the discontinuation of Facts are subject to the results of the employee consultation.
In recent weeks, there have been repeated rumors that Facts is to be discontinued or sold to Der Spiegel. Der Spiegel will be published with a Swiss supplement for the first time on Monday, June 25.
