Basler Zeitung gets rid of Radio Basel 1
Basler Zeitung is selling Radio Basel 1 to Medien für Erwachsene AG, which is majority-owned by entrepreneur Christian Heeb. The parties have agreed not to disclose the purchase price. Baz intends to concentrate on its core journalistic business in future.
Basler Zeitung is selling Radio Basel 1 to Medien für Erwachsene AG, which is majority-owned by entrepreneur Christian Heeb. The parties have agreed not to disclose the purchase price. Baz intends to concentrate on its core journalistic business in future.
The sale is a reaction to the current difficult earnings situation on the advertising market, the two parties wrote in a joint press release on Wednesday. With the takeover of the station, Radio Basilisk founder Heeb and his partners are planning a change of concept and name. There are also plans to expand the editorial output. Further details will be announced at a later date.
The sale still has to be approved by the supervisory authority. A decision is expected before the summer vacation, the two parties write. The legally binding transfer of the license should then take place in late summer 2009. Until then, Radio Basel 1 will remain under the management of Basler Zeitung Medien.
Medien für Erwachsene AG did not receive an FM license from the Uvek in autumn 2008 and subsequently lodged an appeal with the Federal Administrative Court. After the sale was approved, MFE withdrew its appeal.
The sale is a reaction to the current difficult earnings situation on the advertising market, the two parties wrote in a joint press release on Wednesday. With the takeover of the station, Radio Basilisk founder Heeb and his partners are planning a change of concept and name. There are also plans to expand the editorial output. Further details will be announced at a later date.
The sale still has to be approved by the supervisory authority. A decision is expected before the summer vacation, the two parties write. The legally binding transfer of the license should then take place in late summer 2009. Until then, Radio Basel 1 will remain under the management of Basler Zeitung Medien.
Medien für Erwachsene AG did not receive an FM license from the Uvek in autumn 2008 and subsequently lodged an appeal with the Federal Administrative Court. After the sale was approved, MFE withdrew its appeal.
