Green light at Press TV
Basler Media Group Can Negotiate with Jean Frey AG
Basel media group can negotiate with Jean Frey AGOn June 3, the board of directors (BoD) of Presse-TV (PTV) discussed the request of the Basel media group (BM) to cede half of its 20 percent share in the publisher's television on SF 2 to Jean Frey AG and its new owners. The reason: Jean Frey AG should be able to contribute its well-run Bilanz-Talk and possibly other programs as a PTV partner to the publisher's television on SF 2 even after it has been cut loose from BM (see also WW 17/02). At the board meeting, the other PTV shareholders (Ringier 30 percent, NZZ 30 percent, the German publishing group DCTP 20 percent) have now agreed in principle that BM can enter into sales and investment negotiations with Jean Frey AG.
First Ringier wanted to know the new Jean Frey shareholders
At least verbally, they waived their right of first refusal, Meyer said when asked. However, the BM does not yet have the commitments in writing. "The commitments are tied to a few conditions," says Martin Werfeli, COO of Ringier and member of the PTV Board of Directors. However, he did not want to explain to WerbeWoche what kind of conditions are involved.
At the last meeting of the Board of Directors in March of this year, when BM first presented its request, Ringier already hinted at possibly wanting to exercise its right of first refusal and thus prevent Jean Frey AG from acquiring a stake in Presse-TV.
The threat was partly intended as a tit-for-tat response to the collapsed Jean Frey deal. But it also had factual reasons: One wanted to know exactly the shareholder structure of the new Jean Frey AG first before admitting it as a partner. As is well known, this requirement has now been met, which apparently had a fruitful effect at the last meeting. In addition, NZZ and DTCP seem to have influenced Ringier not to bring any animosities towards BM or Jean Frey AG into the PTV board. Markus Knöpfli
First Ringier wanted to know the new Jean Frey shareholders
At least verbally, they waived their right of first refusal, Meyer said when asked. However, the BM does not yet have the commitments in writing. "The commitments are tied to a few conditions," says Martin Werfeli, COO of Ringier and member of the PTV Board of Directors. However, he did not want to explain to WerbeWoche what kind of conditions are involved.
At the last meeting of the Board of Directors in March of this year, when BM first presented its request, Ringier already hinted at possibly wanting to exercise its right of first refusal and thus prevent Jean Frey AG from acquiring a stake in Presse-TV.
The threat was partly intended as a tit-for-tat response to the collapsed Jean Frey deal. But it also had factual reasons: One wanted to know exactly the shareholder structure of the new Jean Frey AG first before admitting it as a partner. As is well known, this requirement has now been met, which apparently had a fruitful effect at the last meeting. In addition, NZZ and DTCP seem to have influenced Ringier not to bring any animosities towards BM or Jean Frey AG into the PTV board. Markus Knöpfli
