Last December, media group Tamedia and the Goldbach Group announced their plan to enter a strategic partnership. After an in-depth review, the Swiss Federal Competition Commission, COMCO, has now approved the takeover without any requirements or conditions. The execution will take place by the end of August.
With their strategic partnership, Tamedia and Goldbach say they intend to strengthen their position in the Swiss advertising market and at the same time, expand their international business, especially in the neighbouring countries of Germany and Austria, along with the out-of-home provider Neo Advertising, in which Tamedia holds a majority interest.
The existing management will continue to run the Goldbach Group independently at its current headquarters in Küsnacht, Switzerland. Goldbach CEO Michi Frank will join the management board of Tamedia as an additional member.
