Well-calculated dose of transparency
Widespread relief at the new, broadly diversified shareholder base of Jean Frey AG
Widespread relief about the new, broadly diversified shareholder base of Jean Frey AGBy Markus Knöpfli After the announcement of the majority of Jean Frey investors, the observer is in tense silence. In the other editorial offices of Jean Frey AG, people are relieved, but still tight-lipped. Media experts are satisfied, but also surprised about the investor transparency.
Christoph Richterich, Chairman of the Board of Jean Frey AG, did not want to comment on the current situation at his company to WerbeWoche. According to the Swissfirst communiqué, the only thing that is certain is that he will hold a shareholders' meeting within the next two months at which the board of directors will be definitively appointed.
CEO Filippo Leutenegger also remained rather vague on his first official day at work. After the layoffs and the subsequent immediate dismissals of Beobachter editor-in-chief Ivo Bachmann, head of consulting Philippe Ruedin and editor Adrian Schmid, he could not rule out further departures. But it was now a matter of "looking to the future and reactivating trust," especially since the new investors would not hinder the independence of the Jean Frey titles. He also said he was unbiased, because "the explosion at the Observer" was primarily due to the past. Leutenegger: "There were obviously promises that were not kept."
As his most urgent problem at the moment, he mentioned the succession plan at the Beobachter. He was in talks with the editors about this, but did not want to say whether the current CR deputy Fredi Lüthin was also involved. Nor did he give any indication of his further "program.
But what about the 20 percent that rumors say must be cut from the Beobachter budget? Leutenegger waved it off: The fact is that Jean Frey AG is currently separating from the Basel media group and therefore all processes, costs and revenues are being reviewed. Investments, also at the Beobachter, are not excluded, he said.
The editors of the Beobachter are waiting to see what happens. One editor told SDA that he had "rubbed his eyes" at the list of investors. Press reports spoke of "subdued optimism" at Weltwoche and Bilanz. "The mood at our company is O.K.," said TR7 publishing director Sandro Rüegger, in contrast. "We now know who believes in us." That's a good starting point for working, he says.
The new situation is viewed positively by media professionals in particular.
assessed by the shareholders. Maike Juchler, Managing Director of m&m, expressed her "relief" at the broad distribution of shareholders, Andy Lehmann (Mediahaus Seefeld) was "very reassured by so much transparency," and Urs Renner (The Media Edge) does not see the independence of the Jean Frey titles at risk. Monica Jäggi (Konnex), however, sees the right-wing bias of some investors as problematic for the image of Beobachter and Weltwoche. On the positive side, she notes that with Charles von Graffenried and Heinz Wermelinger, people from the media industry have joined the company.
A new consumer magazine is also anticipated
Although Robert C. Baier (MediaBaier) finds all this "interesting and surprising," he nevertheless sees a dark cloud looming over Jean Frey AG and its "Goldeseli" Observer: if Ringier were to set up a consumer magazine, which Baier firmly expects to happen soon. Juchler, on the other hand, does not believe in anything short-term from Ringier. She fears more for Weltwoche, which, after its relaunch on May 8, will have to show what it's still made of by the end of the year, "otherwise I see black for it.
The attitude of advertisers is assessed differently. They tend to take a longer-term view and are "less nervous than the media scene" about the turbulence at Jean Frey, says Lehmann. Renner agrees with him about the observers, but not about Weltwoche: "It suffered from the turmoil and the postponed relaunch," he says. Juchler and Jäggi agree.
According to Swissfirst Bank, financier Tito Tettamanti is the largest single shareholder in Jean Frey AG with 25 percent. CM Crossmedia AG in Lucerne (boss: Heinz Wermelinger) holds 10 percent. A further 45 percent, in tranches of no more than 5 percent each, is held by: Charles von Graffenried, Berne; Peter Weigelt, Mörschwil; Hans Kaufmann, Wettswil; Altamira Holding, Zug; Aleardo Buzzi and Heinrich Sundmeyer, both Monte Carlo; Ralph Klingler, Flawil; Pierre Mirabaud, Founex; Jörg Rappold, Küsnacht; Elisabeth Schulz, Vienna; Alfred Wiederkehr, Zurich; and 34 bodies and members of Jean Frey AG. The owners of the remaining 20 percent remain anonymous, but according to Swissfirst, none of them holds "a significant position."
A total of two million shares with a par value of 51 francs each were placed, bringing the subscribed capital to 102 million francs, including a capital increase of 25.5 million francs. According to Swissfirst, this ensures that sufficient funds are available "among other things, for the relaunch of Weltwoche". The Basel-based media group is thus likely to have received 76.5 million francs, although this has not been confirmed.
Christoph Richterich, Chairman of the Board of Jean Frey AG, did not want to comment on the current situation at his company to WerbeWoche. According to the Swissfirst communiqué, the only thing that is certain is that he will hold a shareholders' meeting within the next two months at which the board of directors will be definitively appointed.
CEO Filippo Leutenegger also remained rather vague on his first official day at work. After the layoffs and the subsequent immediate dismissals of Beobachter editor-in-chief Ivo Bachmann, head of consulting Philippe Ruedin and editor Adrian Schmid, he could not rule out further departures. But it was now a matter of "looking to the future and reactivating trust," especially since the new investors would not hinder the independence of the Jean Frey titles. He also said he was unbiased, because "the explosion at the Observer" was primarily due to the past. Leutenegger: "There were obviously promises that were not kept."
As his most urgent problem at the moment, he mentioned the succession plan at the Beobachter. He was in talks with the editors about this, but did not want to say whether the current CR deputy Fredi Lüthin was also involved. Nor did he give any indication of his further "program.
But what about the 20 percent that rumors say must be cut from the Beobachter budget? Leutenegger waved it off: The fact is that Jean Frey AG is currently separating from the Basel media group and therefore all processes, costs and revenues are being reviewed. Investments, also at the Beobachter, are not excluded, he said.
The editors of the Beobachter are waiting to see what happens. One editor told SDA that he had "rubbed his eyes" at the list of investors. Press reports spoke of "subdued optimism" at Weltwoche and Bilanz. "The mood at our company is O.K.," said TR7 publishing director Sandro Rüegger, in contrast. "We now know who believes in us." That's a good starting point for working, he says.
The new situation is viewed positively by media professionals in particular.
assessed by the shareholders. Maike Juchler, Managing Director of m&m, expressed her "relief" at the broad distribution of shareholders, Andy Lehmann (Mediahaus Seefeld) was "very reassured by so much transparency," and Urs Renner (The Media Edge) does not see the independence of the Jean Frey titles at risk. Monica Jäggi (Konnex), however, sees the right-wing bias of some investors as problematic for the image of Beobachter and Weltwoche. On the positive side, she notes that with Charles von Graffenried and Heinz Wermelinger, people from the media industry have joined the company.
A new consumer magazine is also anticipated
Although Robert C. Baier (MediaBaier) finds all this "interesting and surprising," he nevertheless sees a dark cloud looming over Jean Frey AG and its "Goldeseli" Observer: if Ringier were to set up a consumer magazine, which Baier firmly expects to happen soon. Juchler, on the other hand, does not believe in anything short-term from Ringier. She fears more for Weltwoche, which, after its relaunch on May 8, will have to show what it's still made of by the end of the year, "otherwise I see black for it.
The attitude of advertisers is assessed differently. They tend to take a longer-term view and are "less nervous than the media scene" about the turbulence at Jean Frey, says Lehmann. Renner agrees with him about the observers, but not about Weltwoche: "It suffered from the turmoil and the postponed relaunch," he says. Juchler and Jäggi agree.
According to Swissfirst Bank, financier Tito Tettamanti is the largest single shareholder in Jean Frey AG with 25 percent. CM Crossmedia AG in Lucerne (boss: Heinz Wermelinger) holds 10 percent. A further 45 percent, in tranches of no more than 5 percent each, is held by: Charles von Graffenried, Berne; Peter Weigelt, Mörschwil; Hans Kaufmann, Wettswil; Altamira Holding, Zug; Aleardo Buzzi and Heinrich Sundmeyer, both Monte Carlo; Ralph Klingler, Flawil; Pierre Mirabaud, Founex; Jörg Rappold, Küsnacht; Elisabeth Schulz, Vienna; Alfred Wiederkehr, Zurich; and 34 bodies and members of Jean Frey AG. The owners of the remaining 20 percent remain anonymous, but according to Swissfirst, none of them holds "a significant position."
A total of two million shares with a par value of 51 francs each were placed, bringing the subscribed capital to 102 million francs, including a capital increase of 25.5 million francs. According to Swissfirst, this ensures that sufficient funds are available "among other things, for the relaunch of Weltwoche". The Basel-based media group is thus likely to have received 76.5 million francs, although this has not been confirmed.
