Ringier sells shareholdings
Ringier and Axel Springer are withdrawing from the Czech Republic. In addition, Ringier is selling its stake in Good News. According to the NZZ, the media company plans to use the proceeds to improve its income statement again this year.
The end of the year is a dangerous time for the subsidiaries of the media company Ringier, says the NZZ am Sonntag. Marc Walder, the company's CEO, regularly trims the portfolios and sells off one or the other subsidiary. With the conspicuous sales at the end of the year, the CEO ensures enough extraordinary income that the income statement remains somewhat in balance.
NZZ cannot substantiate this claim with figures. The company does not report extraordinary income, and the press spokesman told NZZ that the Group does not comment further on the published figures.
In the case of the sale of shares in Good News, however, even the NZZ does not expect a high return. Rather, the sale seems to be an admission that Ringier has not been able to gain a proper foothold in this area. The long-established concert agency is a shadow of what Ringier once bought in - especially since founder André Béchir ended his collaboration with Ringier a year ago and founded the rival company ABC Production.
