Swisscom acquires 100 percent of Cinetrade and thus Teleclub
Swisscom is acquiring full ownership of the entertainment company Cinetrade. Until now, the telecommunications group held a 75 percent stake in the company that owns Teleclub. A Swisscom spokesperson explained on Sunday, in response to an inquiry, that the company had purchased the remaining 25 percent of the shares 10 days ago.
The seller is Cinetrade founder Stephan Sager. As a result, Swisscom will become the sole shareholder of CT Cinetrade AG and its
Group companies, Swisscom spokesman Christian Neuhaus said in response to a corresponding article in the SonntagsBlick. The parties have agreed not to disclose the purchase price.
Stephan Sager would take on an advisory role in the future. Cinetrade boss Wilfried Heinzelmann will continue in his post. No changes are planned in management either, Neuhaus said. Cinetrade is a film and sports rights company that also operates the pay-TV channel Teleclub and the cinema chain Kitag.
Swisscom has held a 75 percent stake since 2013, having taken a 49 percent stake in Cinetrade in 2005. The "blue giant" thus secured film and sports rights with a view to the launch of Swisscom TV in 2006. Cinetrade owns not only Teleclub, but also Kitag, which operates 85 movie theaters with 17,000 seats in Switzerland, making it the country's largest cinema operator. (SDA/hae)
