AZ Medien and NZZ Media Group establish joint media company

With the joint venture, the formation of which was already in the recent past predicts the two media companies want to secure the independence and further development of all their regional media brands in a challenging market environment. The new company will reach around two million people in German-speaking Switzerland with the regional newspapers and online portals as well as radio and TV stations of both companies and the magazines of AZ Medien. With sales of just under 500 million Swiss francs and 2,000 employees, it is to be "one of the leading media companies in Switzerland".

Strategic focus on journalism connects

The aim of the joint venture is to invest in the further development of the brands and products in the long term, to drive the digital transformation with innovations, and thus to lead the regional media business into the future. "AZ Medien and NZZ Regional Media both place their strategic focus on journalism and are committed to a liberal basic approach. Together, we can increase our reach and achieve economies of scale. The merger will create a media company whose sustainability is guaranteed by the NZZ shareholders and the Wanner family," emphasizes Etienne Jornod, Chairman of the Board of Directors of the NZZ Media Group. "Regional media make an important contribution to opinion-forming in federalist, direct-democratic Switzerland. Together, we are creating a broad-based, competitive media company that has the financial strength to invest in the future," says Peter Wanner, publisher of AZ Medien, with conviction.

Joint leadership

The two media companies hold equal shares in the new joint stock company. The NZZ Media Group and AZ Medien have agreed on joint management of the joint venture. The board of directors is to be chaired by Peter Wanner. Jörg Schnyder, currently Chief Financial Officer and Chairman of the Executive Board a. i. of NZZ Media Group, will become Vice Chairman and Head of the Finance Committee. Pascal Hollenstein, currently Head of Journalism at NZZ Regional Media, will be responsible for all newspaper titles of the new media company as Journalistic Director. Axel Wüstmann, currently CEO of AZ Medien, becomes CEO of the joint venture, and Jürg Weber, currently Head of NZZ Regional Media, becomes Deputy CEO.

AZ Medien brings in everything except Watson

The new company includes all units of AZ Medien with the exception of Watson. The NZZ Media Group is integrating its entire regional media business into the joint venture. The printing plants of both companies will also become part of it. All employees and managers of these units of the two companies will be transferred to the new company. The NZZ Media and Business Media divisions of the NZZ Media Group, as well as the licensed radio and TV stations of both companies, are not part of the joint venture. The joint venture will work in partnership with the NZZ Media Group and will, among other things, procure its technology services. The partners have agreed not to disclose financial details. (pd/hae)