The two media groups Axel Springer and Ringier are founding a new joint venture company in which each will hold an equal stake. A letter of intent for this purpose had already been signed in December 2014. Axel Springer Switzerland will contribute to the new joint venture company the entire Swiss business of Axel Springer SE, and Ringier will contribute all its publications in the German speaking and French speaking part of Switzerland, together with their online offerings and Le Temps, the quality daily newspaper published in the French speaking part of Switzerland. The operations of the new joint venture company, Ringier Axel Springer Media Switzerland AG, are expected to commence on January 1, 2016.

The new company’s joint owners intend for the joint venture to achieve a significant enhancement of their competitive capabilities in the Swiss newspaper and magazine readership market and in the Swiss advertising arena. Further digitalization of their well-known publishing brands is also a key objective. By joining forces in this way, Ringier and Axel Springer are extending the scope of their existing, and highly successful, partnership in Eastern Europe to encompass the Swiss market as well.

Homburger acted as counsel to Axel Springer. David Oser (Partner, Corporate | M&A) led Homburger's corporate & M&A team, which also included Reto Heuberger (Partner, Tax) and Valentin Jentsch (Associate, Corporate | M&A).

For merger control matters, Homburger advised both Axel Springer and Ringier. Franz Hoffet (partner, Competition | Regulation) led Homburger's Competition team, which also included Gerald Brei (partner, Competition | Regulatory), Bettina Meyer, Alain Girard (both associates, Competition | Regulatory) and Kevin Hubacher (junior associate, Competition | Regulatory).