ComCo allows takeover of Ringier Axel Springer Switzerland
The Competition Commission (Weko) has given the green light for Ringier's acquisition of Ringier Axel Springer Switzerland (RASCH). The RASCH media titles and the Blick Group will thus be brought together under the umbrella of Ringier Media Switzerland. The German Axel Springer Group is thus withdrawing from Switzerland.
Ringier announced on Tuesday that the merger announced at the end of September can now be completed with the approval of the Competition Commission. Ladina Heimgartner, the former head of the Blick Group, will become the new head of Ringier Media Switzerland. The company employs around 1000 people.
In addition to the Blick Group, Ringier Media Switzerland owns the 20 magazine and journal titles of RASCH, including the Observer, the Handelszeitung and Lucky mail.
The current RASCH site in Zurich-Altstetten will be retained and no jobs will be cut in the editorial offices, it was announced when the takeover was announced at the end of September. (SDA)
