Edipresse and Tamedia: First investment step completed
The media companies Edipresse Switzerland and Tamedia have completed the first step toward their merger. As a result, Tamedia now holds a 49.9 percent stake in the share capital of Presse Publications SR S.A. (PPSR), which encompasses Edipresse’s core media operations.
In a second step, Tamedia will increase its stake by a further 0.2 percent at the beginning of 2011 and acquire the remaining 49.9 percent of the share capital at the beginning of 2013, as detailed in a press release issued by the two companies. As part of the third step, Groupe Edipresse will acquire a block of shares in Tamedia and thus become a significant shareholder of the media company. The merger of the two companies is intended to create a Swiss media house with regional media offerings from 2013, the press release continues.
The following five persons will sit on the Board of Directors of Publications SR S.A., three of whom will be appointed by Edipresse and two by Tamedia: Pierre Lamunière, Chairman of the Board of Directors, Pietro Supino, Vice Chairman of the Board of Directors, Tibère Adler, Delegate of the Board of Directors, Martin Kall and Michel Preiswerk. Edipresse publisher Pierre Lamunière was already elected to the Tamedia Board of Directors at the Annual General Meeting on May 12, 2009.
The following five persons will sit on the Board of Directors of Publications SR S.A., three of whom will be appointed by Edipresse and two by Tamedia: Pierre Lamunière, Chairman of the Board of Directors, Pietro Supino, Vice Chairman of the Board of Directors, Tibère Adler, Delegate of the Board of Directors, Martin Kall and Michel Preiswerk. Edipresse publisher Pierre Lamunière was already elected to the Tamedia Board of Directors at the Annual General Meeting on May 12, 2009.
