Merger of Tamedia and Espace Media Groupe
The media companies Tamedia and Espace Media Groupe are merging. The goal of the merger is to leverage synergies and jointly launch new media projects.
The media companies Tamedia and Espace Media Groupe are merging. The aim of the merger is to exploit synergies and jointly launch new media projects. According to the press release issued on Thursday, Tamedia will acquire 80 percent of the share capital of the Bern-based Espace Media Groupe and in return the current majority owners of Espace Media will acquire a stake in Tamedia. The purchase price for the majority shareholding in Espace is CHF 205 million in cash and 600,000 Tamedia shares, which are to be created as part of a capital increase. The current majority shareholders of Espace Media Groupe, primarily the Erwin Reinhardt-Scherz and Charles von Graffenried families, are thus acquiring a substantial stake in Tamedia. Charles von Graffenried is also to be elected to the Board of Directors of Tamedia.
Joining forces for new media projects
The change in media consumption habits and the shift of advertising money to the Internet pose major structural challenges for the media industry. With the strategic merger, Tamedia and Espace Media want to combine the competencies and strengths of both companies and take advantage of the opportunities arising from this change. The aim is to strengthen innovation and quality and to jointly launch new media projects in the areas of print, online and e-media.
Charles von Graffenried remains publisher of the Berner Zeitung and Chairman of the Board of Directors of Espace Media Groupe. The liberal-democratic orientation of the media published by Espace Media Groupe, which also includes the regional broadcaster TeleBärn and the capital city radio station Capital FM, will also be maintained in the new media group. Albert P. Stäheli will remain Delegate of the Board of Directors and CEO of Espace Media Groupe. The Board of Directors of Espace Media Groupe now consists of the Chairman Charles von Graffenried, the Vice Chairman Pietro Supino, the Delegate Albert P. Stäheli, Martin Kall and Iwan Rickenbacher as well as two members yet to be appointed, whereby the majority of the members should have their place of residence in the Espace Mittelland.
Development from a print to a multimedia company
The Espace Media Groupe, whose origins date back to 1888, and Tamedia, which emerged from the Tages-Anzeiger founded in 1893, have been linked for many years. Since 1990, Tamedia has held a 49 percent stake in the Berner Zeitung, the most important subsidiary of the Espace Media Groupe. Berner Zeitung has held 15 percent of the share capital of SonntagsZeitung since 1987. The 17.5 percent shareholding of Berner Zeitung in 20 Minuten further strengthens the cooperation.
In recent years, both companies have developed from pure print companies into modern multimedia companies. The Espace Media Groupe's new multi-media building in Berne is a sign of this change. In the fall of 2008, it will unite the editorial offices of the print media Berner Zeitung BZ and Der Bund as well as the studios of the regional broadcaster TeleBärn and Radio Capital FM together with the online portal espace.ch under one roof.
Sale of Radio Basilisk and Canal 3
Due to the new radio and TV law, which limits the number of private radio licenses per provider to two, the two companies are forced to sell one private radio station each. Tamedia is therefore aiming to sell the Basel radio station Basilisk by the end of 2007. In return, Espace Media Groupe is looking for a new partner for the bilingual Biel radio station Canal 3, while the leading Swiss local radio station Radio 24 and the Bernese capital city radio station Capital FM will continue to operate as part of the new company.
Tamedia capital increase and WEKO notification
The shareholders will decide on the capital increase of Tamedia AG at an Extraordinary General Meeting on Wednesday, June 27, 2007 in Zurich. At the same time, the Board of Directors will propose to the shareholders the election of Charles von Graffenried to the Board of Directors.
The planned merger of Tamedia and Espace Media Groupe will be notified to the Swiss Federal Competition Commission. Following approval by the Competition Commission, Tamedia will decide on a possible offer to the owners of the remaining 20 percent of the share capital of Espace Media Groupe.
Joining forces for new media projects
The change in media consumption habits and the shift of advertising money to the Internet pose major structural challenges for the media industry. With the strategic merger, Tamedia and Espace Media want to combine the competencies and strengths of both companies and take advantage of the opportunities arising from this change. The aim is to strengthen innovation and quality and to jointly launch new media projects in the areas of print, online and e-media.
Charles von Graffenried remains publisher of the Berner Zeitung and Chairman of the Board of Directors of Espace Media Groupe. The liberal-democratic orientation of the media published by Espace Media Groupe, which also includes the regional broadcaster TeleBärn and the capital city radio station Capital FM, will also be maintained in the new media group. Albert P. Stäheli will remain Delegate of the Board of Directors and CEO of Espace Media Groupe. The Board of Directors of Espace Media Groupe now consists of the Chairman Charles von Graffenried, the Vice Chairman Pietro Supino, the Delegate Albert P. Stäheli, Martin Kall and Iwan Rickenbacher as well as two members yet to be appointed, whereby the majority of the members should have their place of residence in the Espace Mittelland.
Development from a print to a multimedia company
The Espace Media Groupe, whose origins date back to 1888, and Tamedia, which emerged from the Tages-Anzeiger founded in 1893, have been linked for many years. Since 1990, Tamedia has held a 49 percent stake in the Berner Zeitung, the most important subsidiary of the Espace Media Groupe. Berner Zeitung has held 15 percent of the share capital of SonntagsZeitung since 1987. The 17.5 percent shareholding of Berner Zeitung in 20 Minuten further strengthens the cooperation.
In recent years, both companies have developed from pure print companies into modern multimedia companies. The Espace Media Groupe's new multi-media building in Berne is a sign of this change. In the fall of 2008, it will unite the editorial offices of the print media Berner Zeitung BZ and Der Bund as well as the studios of the regional broadcaster TeleBärn and Radio Capital FM together with the online portal espace.ch under one roof.
Sale of Radio Basilisk and Canal 3
Due to the new radio and TV law, which limits the number of private radio licenses per provider to two, the two companies are forced to sell one private radio station each. Tamedia is therefore aiming to sell the Basel radio station Basilisk by the end of 2007. In return, Espace Media Groupe is looking for a new partner for the bilingual Biel radio station Canal 3, while the leading Swiss local radio station Radio 24 and the Bernese capital city radio station Capital FM will continue to operate as part of the new company.
Tamedia capital increase and WEKO notification
The shareholders will decide on the capital increase of Tamedia AG at an Extraordinary General Meeting on Wednesday, June 27, 2007 in Zurich. At the same time, the Board of Directors will propose to the shareholders the election of Charles von Graffenried to the Board of Directors.
The planned merger of Tamedia and Espace Media Groupe will be notified to the Swiss Federal Competition Commission. Following approval by the Competition Commission, Tamedia will decide on a possible offer to the owners of the remaining 20 percent of the share capital of Espace Media Groupe.
