The joint venture will encompass the magazine titles Ringier publishes in the German-speaking and French-speaking regions of Switzerland, along with all their online offerings, as well as Le Temps – Ringier’s French-language newspaper. Axel Springer will transfer the operations of its Axel Springer Switzerland subsidiary to the joint venture. Axel Springer Switzerland manages all the Swiss publishing operations of Axel Springer SE.
The joint venture will operate under the name ‘Ringier Axel Springer Medien Schweiz’, and will have offices in Zurich.
Marc Walder, Ringier’s CEO and the vice chairman of the Ringier Axel Springer Medien Schweiz joint venture said: “Our plan to join forces with Axel Springer in Switzerland makes sense from both a journalistic and an operational standpoint. The two companies’ complementary portfolios hold extremely well positioned titles. Our existing joint venture in Eastern Europe demonstrates just how much benefit each party can derive from a collaboration like this.”
Ralph Büchi, president, international at Axel Springer (and a FIPP Board member), said: “The planned joint venture in Switzerland provides an excellent basis for the continuing successful development of the strong media brands Ringier and Axel Springer each operate in German-speaking and French-speaking Switzerland over the long term. That is as true of the print titles as it is of the digital offerings.”
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