Axel Springer Sells Stake in Ringier Axel Springer Schweiz as Part of Digital Strategy

Axel Springer Sells Stake in Ringier Axel Springer Schweiz as Part of Digital Strategy

(IN BRIEF) Axel Springer has divested its 35% stake in Ringier Axel Springer Schweiz (RASCH) to its joint venture partner, Ringier, as part of its digital strategy. This move allows Ringier to become the sole owner of a portfolio that includes 20 prominent magazine and journal titles in Switzerland. Axel Springer’s digital-focused strategy aims to transform the company into a purely digital media entity, with approximately 90% of its revenues already coming from the digital sector. In the joint venture with Ringier in Poland, both companies will continue to operate digitally-focused media and classifieds brands, emphasizing digital growth and cooperation. The transaction’s completion in 2023 is subject to approval from the Swiss Competition Commission (WEKO).

(PRESS RELEASE) BERLIN, 28-Sep-2023 — /EuropaWire/ — As part of its digital strategy, Axel Springer has sold its economic 35 percent stake in Ringier Axel Springer Schweiz (RASCH) to its joint venture partner Ringier. Ringier will thereby become the sole owner of the portfolio with a total of 20 of the widest-reach magazine and journal titles in Switzerland.

For Axel Springer, the sale is a further step in the company’s digitization strategy. In Poland, Ringier and Axel Springer will remain joint venture partners. For many years, they have jointly operated digitally focused media and classifieds brands with strong revenues and EBITDA, including Onet, Fakt, Newsweek, Forbes and Morizon.pl.

Mathias Döpfner, CEO Axel Springer SE: “Already today, almost 90 percent of our revenues are generated in the digital business. It is our declared goal to establish Axel Springer as a purely digital media company. Therefore, the sale of our shares in Ringier Axel Springer Schweiz is a logical step for us, whose 20 media brands are in excellent hands with Ringier. We look forward to further cooperation and digital growth for our joint venture in Poland.“

Marc Walder, CEO Ringier AG: “After Eastern Europe, Greece and Portugal, we are investing further in leading media brands with this transaction. Bringing together the Blick Group, a leading player in news and sports, with the established, in-depth content of the Ringier Axel Springer portfolio is a perfect strategic fit. The print publications will retain their strong profiles. Digitally, we will generate significant added value for users and the advertising market thanks to the combination of great reach on the one hand and strong content on the other. I sincerely thank Axel Springer for a very successful journey together.”

The transfer of shares by Ringier AG is expected to be completed in the course of 2023. The closing of the transaction is subject to the approval of the Swiss Competition Commission (WEKO).

Media Contact:

Julia Sommerfeld
Director Corporate Communications, Deputy Company Spokesperson
julia.sommerfeld@axelspringer.de
+49 30 2591 77613

SOURCE: Axel Springer SE