The NZZ is radio-active
Local radio NZZ now has a majority not only at Radio Ri, but also at Radio Pilatus. With four stations, it now has two too many.
Local radio NZZ now has a majority stake not only in Radio Ri, but also in Radio Pilatus. When St. Galler Tagblatt AG (SGT), a member of the NZZ Group, acquired a 35% share package in Radio Ri from Goldbach Media two weeks ago and became the majority shareholder in the Rhine Valley local radio station, this was well communicated. No wonder, as changes of ownership of 20 percent or more must be approved by DETEC - with a hearing being held beforehand.Another, no less significant change of ownership in the radio sector, however, has been kept under wraps until now: Since last summer, LZ Medien, which also belongs to the NZZ Group, has held a majority stake in Radio Pilatus. Ringier had quietly sold its stake to the co-shareholders (see below).
This means that the NZZ Group now has a say in four radio stations and, after SRG, has become the media group with the most radio stations in this country: via SGT, it holds 87.5 percent of Radio Aktuell and probably 79 percent of Ri, via LZ Medien it recently acquired 52.6 percent of Radio Pilatus and via Freie Presse Holding it owns 77.6 percent of the BE-1 carrier Radig AG. Not to forget: The NZZ Group also cooperates with Radio Toxic in St. Gallen, which was founded by ETH students. Although it does not hold a direct stake, SGT supports the student radio station and also markets its advertising time. LZ Medien also holds a 16 percent stake in Radio Sunshine and its marketing company.
The question now arises as to why the NZZ Group is still expanding and consolidating its radio portfolio in this way when the new RTVA will soon come into force, which prohibits the ownership of more than two radio stations (§ 44.3). It will also not be possible to save vested rights because all radio coverage areas will be put out to tender again.
Beat Lauber, member of the NZZ Group Executive Board and responsible for regional newspaper publishers, also knows this. He is aware that the NZZ Group currently owns too many radios. But he also knows what should be done with these assets. "Local radio stations make sense if they strengthen the activities of the regional media houses," he says, outlining the NZZ philosophy. This makes it clear that Radio BE1 in Bern no longer really fits in with the NZZ strategy. Since the federal government and the Berner Zeitung implemented their Bern model, "the radio is less well integrated into a media network". "We will have to look for a solution that is compatible with the RTVG," says Lauber. This probably means that the NZZ Group will at least have to relinquish its majority stake. "We have a solution in mind," says Lauber. He does not want to say any more.
The situation is different with the Pilatus and Aktuell radio stations. "They complement the media companies in Lucerne and St. Gallen perfectly," says Lauber. So there's no reason to get rid of them. And what will happen to the newly acquired Radio Ri?
"Ri, which was founded by local publishers, has an important function in the Rhine Valley. We want to preserve this," says Lauber. However, as the station has never really been able to take off financially, the aim is to merge its license area with that of Radio Aktuell and at the same time support the strong local presence for the region. "Of course, we would do without Ri's fee-splitting share," says Lauber. He goes on to emphasize: "Because local roots are so important to us, we are interested in ensuring that Sarganserländer and Liechtensteiner Vaterland remain integrated."
Disappointment with the dealThe latter is questionable, however, because at least the Liechtensteiner Vaterland (LV) is disappointed with the deal between Goldbach and NZZ. "I think it's a shame that NZZ is now in charge at Ri," says Reinhard Walser, Chairman of the Board of Radio Ri and Board member of LV publisher Vaduzer Medienhaus. Like the other local publishers, Walser has an offer on the table from NZZ, according to which the Goldbach stake could be divided equally among all remaining shareholders. "However, NZZ will definitely receive the majority, which is why we are considering whether we should accept it," says Walser. He has two months to make a decision. But he hints that Liechtensteiner Vaterland is even considering a complete exit from Ri.
And what does the Federal Office of Communications think of Lauber's plans? After all, it is still treating the Ri and Aktuell radio stations separately and with two different licenses in the ongoing consultation on future radio coverage areas. Marcel Regnotto, Head of the Local Media and Retransmission Section, does not want to comment on the specific NZZ plans, as they are not yet available in detail. However, he notes that merging coverage areas and concessions is possible in principle and has already happened. "The proposals that we sent to the consultation are therefore not set in stone," says Regnotto.
Achieving the goal with staying powerBoth at Radio Ri and Radio Pilatus
the NZZ Group proved its patience. It held 44 percent of Radio Ri: 35 percent via SGT and a further 9 percent via BuchsMedien (Werdenberger & Obertoggenburger), where it has been the majority shareholder since 2000. If the Goldbach shares are now distributed equally among the other Ri shareholders (local publishers, including BuchsMedien), the NZZ Group will hold at least 67 percent and a maximum of 79 percent.36.4 percent of Radio Pilatus was also held by the NZZ Group via LZ Medien, making it the largest shareholder for a long time, but without a majority. When co-shareholder Coop sold its 10 percent share at the beginning of 2006, LZ Medien was able to increase its stake to 41.5 percent. The fact that Ringier also sold its 18.2 percent meant that LZ Medien now holds 52.6 percent. Leo Fischer (ex-Cablecom) holds 21.9 percent, Migros 11.3 percent and Luzerner Kantonalbank 14.2 percent.
Cautionary letter to BakomThe fact that NZZ now has a majority stake in Radio Ri,
Hanspeter Lebrument, head of the Südostschweiz Group, does not like this at all. In a letter to Bakom, he asks Bakom "not to approve this transaction". His reasoning: since NZZ joined Ri, his own stations Grischa and Engiadina have been at a disadvantage. For example, Bakom had approved Ri's expansion into the Grischa core area (Prättigau, Chur) at the time, but not Grischa's expansion application to St. Gallen. "We consider this to be unfair," writes Lebrument. He also complains to Bakom that his Romansh station Engiadina receives less fee money than Ri. And finally, Lebrument criticizes the Swisscom fees for broadcasting, which favours the stations of the "rich NZZ Group". "All the recent measures taken against Radio Grischa and Radio Engiadina indicate that they want these two stations to go under," he concludes.
Bakom does not wish to comment on Lebrument's letter. Marcel Regnotto merely states that there will be a hearing on the change of ownership of Radio Ri as soon as the application has been formally received by OFCOM. The Südostschweiz Group will also be involved. "With his letter, Mr. Lebrument has pre-empted the hearing," says Regnotto.
And how is Radio Top reacting to the NZZ majority at Ri? Will Top boss Günter Heuberger now apply for an expansion of his territory into the Rhine Valley? "I'm surprised by what's happening at Ri," admits Heuberger. But he won't let us look at his cards. Just this much: "If DETEC approves the merger of the supply areas, I will carry out a new assessment of the situation." And he expects one thing: that Ri will no longer receive fee splitting in future.
Markus Knöpfli
This means that the NZZ Group now has a say in four radio stations and, after SRG, has become the media group with the most radio stations in this country: via SGT, it holds 87.5 percent of Radio Aktuell and probably 79 percent of Ri, via LZ Medien it recently acquired 52.6 percent of Radio Pilatus and via Freie Presse Holding it owns 77.6 percent of the BE-1 carrier Radig AG. Not to forget: The NZZ Group also cooperates with Radio Toxic in St. Gallen, which was founded by ETH students. Although it does not hold a direct stake, SGT supports the student radio station and also markets its advertising time. LZ Medien also holds a 16 percent stake in Radio Sunshine and its marketing company.
The question now arises as to why the NZZ Group is still expanding and consolidating its radio portfolio in this way when the new RTVA will soon come into force, which prohibits the ownership of more than two radio stations (§ 44.3). It will also not be possible to save vested rights because all radio coverage areas will be put out to tender again.
Beat Lauber, member of the NZZ Group Executive Board and responsible for regional newspaper publishers, also knows this. He is aware that the NZZ Group currently owns too many radios. But he also knows what should be done with these assets. "Local radio stations make sense if they strengthen the activities of the regional media houses," he says, outlining the NZZ philosophy. This makes it clear that Radio BE1 in Bern no longer really fits in with the NZZ strategy. Since the federal government and the Berner Zeitung implemented their Bern model, "the radio is less well integrated into a media network". "We will have to look for a solution that is compatible with the RTVG," says Lauber. This probably means that the NZZ Group will at least have to relinquish its majority stake. "We have a solution in mind," says Lauber. He does not want to say any more.
The situation is different with the Pilatus and Aktuell radio stations. "They complement the media companies in Lucerne and St. Gallen perfectly," says Lauber. So there's no reason to get rid of them. And what will happen to the newly acquired Radio Ri?
"Ri, which was founded by local publishers, has an important function in the Rhine Valley. We want to preserve this," says Lauber. However, as the station has never really been able to take off financially, the aim is to merge its license area with that of Radio Aktuell and at the same time support the strong local presence for the region. "Of course, we would do without Ri's fee-splitting share," says Lauber. He goes on to emphasize: "Because local roots are so important to us, we are interested in ensuring that Sarganserländer and Liechtensteiner Vaterland remain integrated."
Disappointment with the dealThe latter is questionable, however, because at least the Liechtensteiner Vaterland (LV) is disappointed with the deal between Goldbach and NZZ. "I think it's a shame that NZZ is now in charge at Ri," says Reinhard Walser, Chairman of the Board of Radio Ri and Board member of LV publisher Vaduzer Medienhaus. Like the other local publishers, Walser has an offer on the table from NZZ, according to which the Goldbach stake could be divided equally among all remaining shareholders. "However, NZZ will definitely receive the majority, which is why we are considering whether we should accept it," says Walser. He has two months to make a decision. But he hints that Liechtensteiner Vaterland is even considering a complete exit from Ri.
And what does the Federal Office of Communications think of Lauber's plans? After all, it is still treating the Ri and Aktuell radio stations separately and with two different licenses in the ongoing consultation on future radio coverage areas. Marcel Regnotto, Head of the Local Media and Retransmission Section, does not want to comment on the specific NZZ plans, as they are not yet available in detail. However, he notes that merging coverage areas and concessions is possible in principle and has already happened. "The proposals that we sent to the consultation are therefore not set in stone," says Regnotto.
Achieving the goal with staying powerBoth at Radio Ri and Radio Pilatus
the NZZ Group proved its patience. It held 44 percent of Radio Ri: 35 percent via SGT and a further 9 percent via BuchsMedien (Werdenberger & Obertoggenburger), where it has been the majority shareholder since 2000. If the Goldbach shares are now distributed equally among the other Ri shareholders (local publishers, including BuchsMedien), the NZZ Group will hold at least 67 percent and a maximum of 79 percent.36.4 percent of Radio Pilatus was also held by the NZZ Group via LZ Medien, making it the largest shareholder for a long time, but without a majority. When co-shareholder Coop sold its 10 percent share at the beginning of 2006, LZ Medien was able to increase its stake to 41.5 percent. The fact that Ringier also sold its 18.2 percent meant that LZ Medien now holds 52.6 percent. Leo Fischer (ex-Cablecom) holds 21.9 percent, Migros 11.3 percent and Luzerner Kantonalbank 14.2 percent.
Cautionary letter to BakomThe fact that NZZ now has a majority stake in Radio Ri,
Hanspeter Lebrument, head of the Südostschweiz Group, does not like this at all. In a letter to Bakom, he asks Bakom "not to approve this transaction". His reasoning: since NZZ joined Ri, his own stations Grischa and Engiadina have been at a disadvantage. For example, Bakom had approved Ri's expansion into the Grischa core area (Prättigau, Chur) at the time, but not Grischa's expansion application to St. Gallen. "We consider this to be unfair," writes Lebrument. He also complains to Bakom that his Romansh station Engiadina receives less fee money than Ri. And finally, Lebrument criticizes the Swisscom fees for broadcasting, which favours the stations of the "rich NZZ Group". "All the recent measures taken against Radio Grischa and Radio Engiadina indicate that they want these two stations to go under," he concludes.
Bakom does not wish to comment on Lebrument's letter. Marcel Regnotto merely states that there will be a hearing on the change of ownership of Radio Ri as soon as the application has been formally received by OFCOM. The Südostschweiz Group will also be involved. "With his letter, Mr. Lebrument has pre-empted the hearing," says Regnotto.
And how is Radio Top reacting to the NZZ majority at Ri? Will Top boss Günter Heuberger now apply for an expansion of his territory into the Rhine Valley? "I'm surprised by what's happening at Ri," admits Heuberger. But he won't let us look at his cards. Just this much: "If DETEC approves the merger of the supply areas, I will carry out a new assessment of the situation." And he expects one thing: that Ri will no longer receive fee splitting in future.
Markus Knöpfli
