Edipresse sells TV commitments to Pro TV Ventures
The Edipresse publishing group is selling its television holdings. Its stakes in the local broadcaster Vaud Fribourg TV and the television advertising company Ecran P&P are being sold to Pro TV Ventures.
The move is in line with Tamedia's corporate policy, which is withdrawing from the television business with the sale of local stations Tele Bärn and Tele Züri. As Edipresse announced on Friday evening, the buyer of the shares had already previously held stakes in the two divested companies. Edipresse held 23 percent of Vaud Fribourg TV and 18 percent of Ecran P&P. The boards of directors of both companies have been informed, according to the release. The deal still requires the approval of the Swiss Federal Department of Environment, Transport, Energy and Communications (Uvek) due to the television concession. The approval of the other shareholders is also required. Closing is scheduled for the first half of 2012.
