The Swiss Times - Swiss News in English

Ringier Acquires Ringier Axel Springer Switzerland Completely

Ringier has purchased all shares of Ringier Axel Springer Switzerland (RASCH) from Axel Springer. The approximately 20 titles such as Beobachter, Glückspost or Handelszeitung will remain. The Weko must still approve the purchase. Around 1000 employees will be employed by "Ringier Medien Schweiz", Ringier CEO Marc Walder said Wednesday in front of the media. The CEO of the new construct will be Ladina Heimgartner, previously CEO of the Blick Group. The previous location of RASCH in Zurich-Altstetten will remain, and no savings will be made in the editorial departments. However, Walder said there will be "synergies" at the publishing level. Axel Springer held 35 percent of the shares of RASCH. The responsible parties from Ringier did not want to comment on the purchase price. Ringier has purchased all shares of Ringier Axel Springer Switzerland (RASCH) from Axel Springer. The purchase will be approved by the Weko and will employ around 1000 employees. The titles such as Beobachter, Glückspost or Handelszeitung will remain and the previous location of RASCH in Zurich-Altstetten will remain. Ladina Heimgartner, previously CEO of the Blick Group, will be the CEO of the new construct. There will be "synergies" at the publishing level, but no savings will be made in the editorial departments. The purchase price was not disclosed.

©Keystone/SDA

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