Radio 105: Now you can bid

The race for Radio 105 is on. The Swiss Official Gazette of Commerce published the distress sale on Tuesday with the highest offer to date from Radio 1 owner Roger Schawinski, which fellow competitors can now outbid within five days.

Although the type of proceedings has not yet been determined, the Bankruptcy Office Zurich-Oerlikon has initiated a distress sale. This means that even before the type of proceedings has been determined and before the expiry of any submission deadline, the bankruptcy office can sell bankruptcy assets "at our free discretion, either in their entirety or individually by private contract", as the invitation to tender in the Official Gazette of Commerce states. As required by law, the highest offer to date was published. In his "binding purchase offer," Roger Schawinski is offering a total of 784'534 francs to take over the infrastructure and concession of Radio 105. He wants to pay 240'000 francs for the FM concession, 10'000 francs for the broadcasting equipment and 534'534 francs for the outstanding rent until the end of the contract period on September 30, 2016. In addition, the Radio 1 owner is willing to take over at least eight employees of the current Radio 105 team - on terms that are at least 80 percent of the previous conditions. According to the invitation to tender in the Handelsamtsblatt, the gross annual salary is 48'400 francs.

Buy a pig in a poke

The purchase of the FM license, which is limited until 2019, is fraught with risk. If the Federal Department of the Environment, Transport, Energy and Communications (Uvek) refuses to transfer the license to a new owner, the payment of 240'000 Swiss francs will still be forfeited in favor of the bankruptcy estate, according to the tender notice in the Handelsamtsblatt. The competitors are effectively buying a pig in a poke. However, the Federal Office of Communications (OFCOM) has already signaled that it supports a "sustainable solution within the framework of a license transfer to an efficient applicant.

Others can bid

Whether Schawinski will definitely win the bid is still open. There are another five competitors for the purchase of the concession and the facilities of Radio 105, including the TV station Joiz and Radio Energy of the Ringier publishing house. These now have until Saturday to submit higher bids to the Zurich-Oerlikon bankruptcy office. For another interested party to be considered, the offer must be at least 15'000 francs higher. If one of the interested parties actually bids more, Schawinski has the option to submit another one-time offer without knowing the amount of the higher bid. "To the one who has made the highest offer after the publication deadline, the bankruptcy assets will be sold," the bankruptcy office writes. The previous Radio 105 operator Music First Nework had filed for bankruptcy on January 14. Roger Schawinski was the first to come to the public with a concrete rescue concept for the youth station. In the future, Radio 105's programming is to be produced in Radio 1's studio. (SDA)

Image: Keystone


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