Axel Springer swallows Ringier's TV magazines

 Axel Springer Verlag is to take over Ringier's TV program guides, which are up for sale. This was reported by the German news magazine Spiegel. Springer will pay around 30 million euros for the four magazines in Switzerland, including Tele and TVvier, according to negotiating circles. According to Spiegel, the purchase agreement has not yet been signed, but this should take place towards the end of June. Ringier's eight television magazines in the Czech Republic, Slovakia and Romania, on the other hand, are not expected to go to Axel Springer, but probably to Hamburg-based Bauer-Verlag. Ringier does not want to comment on this news: "No comment", Priska Wolfensberger from the media office of the Zurich publishing house simply told Werbewoche. Similarly, according to Spiegel, Axel Springer rejects rumors of a major merger despite its growing links with Ringier. The German publishing giant recently acquired the subscriber base of Ringier's business magazine Cash.
A few months ago, Axel Springer also expanded its position in Switzerland with the takeover of Jean Frey. However, Ralph Büchi from the Handelszeitung and Jean Frey publishing group did not comment on the Spiegel report: "We do not comment on market rumors as a matter of principle," he told Werbewoche.