Ringier sells stake in Ticino Sunday newspaper Il Caffè
Ringier sells its 50 percent stake in Il Caffè to co-publisher Rezzonico Editore. The two companies published the newspaper together for 19 years.
The sale is "by mutual agreement and in the course of a strategic portfolio adjustment," Ringier wrote in a statement.
In the future, the most widely read Sunday newspaper in Italian-speaking Switzerland will intensify its cooperation with the Corriere del Ticino Group, which holds a 45 percent stake in Rezzonico Editore. In the new formation, Il Caffè aims to consolidate and expand its leading position in the Ticino market. As of January 1, 2018, il Caffè will be printed at Centro Stampa Ticino in Muzzano. At the same time, MediaTi Marketing will take over the marketing of the newspaper.
Il Caffè and Ringier will continue to work together as partners on various initiatives and projects at the national level, according to a statement. The parties have agreed not to disclose the price for the shareholding.
Together with the editor-in-chief, the editorial team of the Ticino Sunday newspaper consists of six people. In March, four employees were laid off. The reason given for this was a reduction in income on the advertising market because the newspaper had no subscribers. (pd/hae/SDA)
