Zurich, 21 March 2013 – Tamedia’s revenue (operating revenues) fell by 5.8 percent or CHF 64.8 million to CHF 1,052.4 million (previous year CHF 1,117.2 million). The operating income before depreciation and amortisation (EBITDA) decreased by CHF 34.3 million or 14.4 percent to CHF 203.4 million (previous year CHF 237.7 million), which corresponds to an EBITDA margin of 19.3 percent (previous year 21.3 percent). The operating income (EBIT) fell by 20.9 percent or CHF 37.8 million and now stands at CHF 143.0 million (previous year CHF 180.8 million). Thus the EBIT margin now comes to 13.6 percent (previous year 16.2 percent). The 2012 net income of 152.0 million falls 15.0 percent or CHF 26.8 million short of the previous year’s result of CHF 178.8 million.

The Board of Directors proposes to distribute dividends in the amount of CHF 4.50 per share (previous year CHF 5.75). In context of the employee profit sharing programme the company’s employees participate in the result with a total amount of CHF 5.1 million. This is also the first time that Tamedia employees from the French-speaking part of Switzerland participate in the employee profit sharing programme.
 

¹     Proposal of the Board of Directors

²        Ratio of equity to balance sheet total

³     The margin refers to the operating revenues

⁴     Number of full-time positions in the continued operations

Print Regional: affected by falling advertisement proceeds and improvement in efficiency
During the year under report the media development in the Print Regional business segment has been affected by falling print-advertisement proceeds. The result has only slightly fallen thanks to a successful reorientation of different media services and efficiency improvement measures.

The turnover (operating revenues) of the Print Regional business segment for third parties has fallen by 8.9 percent to CHF 484.3 million in 2012 (previous year CHF 531.8 million). The operating result before depreciation and amortisation (EBITDA) has also decreased by 3.9 percent to CHF 94.5 million (previous year CHF 98.3 million). The EBIT margin comes to 17.3 percent, which is higher than the previous year (15.9 percent).

Print National: still highly profitable despite a slight decline
The Print National business segment has also been affected by an overall declining print-advertisement market, which has especially left deep scars in media relying on the financial industry. However, additional advertising segments were opened thanks to national supplements. Despite a slight decline the Print National business segment, its result is still at a high level.

The turnover (operating revenues) of the Print National business segment for third parties has declined by 6.0 percent to CHF 420.3 million in 2012 (previous year CHF 447.4 million). Therefore, the operating result before depreciation and amortisation (EBITDA) has fallen by 15.2 percent to CHF 97.1 million (previous year CHF 114.5 million). The EBIT margin comes to 23.1 percent, which is lower than the previous year (25.5 percent).

Digital: focus on mobile device commercialisation, expansion of classifieds markets and search.ch
In the past year the Digital business segment’s media development has shown a disappointing display-advertising market development as well as a shift to the use of mobile devices. The commercialisation of the use of mobile devices has thereby remained significantly lower than that of stationary devices.

The turnover (operating revenues) of the Digital business segment for third parties has increased by 7.1 percent to CHF 147.8 million in 2012 (previous year CHF 138.0 million). The consideration of the job platform jobs.ch as of December 2012 and the online shopping club FashionFriends as of October 2012 for the first time has also contributed to the turnover growth. The operating income before depreciation and amortisation (EBITDA) has dropped by 52.8 present to 11.7 million (previous year CHF 24.8 million). This is among other things connected to the positive revaluation income of homegate.ch that was booked the previous year. Investments in the successful expansion of the directory platform search.ch and costs for the in the meantime discontinued auction platform scoup.ch have also negatively affected the result. The EBITDA margin of 7.9 percent is lower than that of the previous year (17.2 percent).

Changes in the Board of Directors
Charles von Graffenried, who was elected to the Board of Directors in 2007, passed away in summer 2012. Martin Bachem leaves the Board after his three year term of office expires. Andreas Schulthess has also announced his resignation from the Board of Directors, of which he has been a member since 2007. As previously announced, the Board of Directors proposes the appointment of Claudia Coninx-Kaczynski and Martin Kall to the Annual Shareholders’ Meeting dated 26 April 2013.

Press conference and information for financial analysts
The press conference shall take place today, Thursday, 21 March 2013 at 10.00 am at Tamedia’s head office at Werdstrasse 21 in Zurich. In addition, an analysts’ conference shall be held at 12.00 am for analysts and investors. If required a conference call in English shall be offered to investors and analysts from abroad the following day.

Zurich, 26 February 2013 – Andreas Schulthess is resigning from the Board of Directors of Tamedia, effective as of the Annual General Meeting on 26 April 2013. The 42-year old economist has served on the Board since 2007. Andreas Schulthess is planning to take his career in a new direction, but will remain affiliated with Tamedia as a shareholder and a member of the founding family.
 

The Board of Directors has proposed Claudia Coninx-Kaczynski to succeed Andreas Schulthess. Claudia Coninx-Kaczynski (39) is also a member of the founding family of Tamedia. She studied law at the University of Zurich and copyright law and international finance law at the London School of Economics and Political Science. After working in the field of research at the University of Zurich for some time, Claudia Coninx-Kaczynski headed the operations of a real estate company as a member of the Board of Directors. She currently serves in various capacities at Swisscontent AG.

Copenhagen and Zurich, November 28, 2012 – 20 Minuten AG, a subsidiary of Swiss media group Tamedia AG, is buying MetroXpress Denmark SA. MetroXpress Denmark SA operates the free commuter newspapers metroXpress and 24timer as well as the associated news portals. The commuter newspaper metroXpress enjoys Denmark's highest readership. Together the two newspapers, whose publishing house is located in Copenhagen, reach a distributed circulation of about 350,000 copies and a readership of approx. 730,000. 20 Minuten AG wants to bring its experience in building a successful commuter newspaper and news portal into the company and thereby contribute to the further development of the Danish media market.

On January 1st 2013, 20 Minuten AG will acquire the shares of MetroXpress Denmark SA from the media houses of Metro International S.A., which previously held 51 percent and from A-Pressen and JP/Politikens Hus, which previously held each 24.5 percent of the shares. In 2011 MetroXpress Denmark SA with its approximately 80 employees, generated 25.5 million EUR in sales. The enterprise value relevant for the takeover comes to a very low two-figure million EURO sum.

The acquisition in Denmark is the second foreign commitment of Tamedia, which includes 20 Minuten. Already at the end of 2007 Tamedia, together with the Luxembourg publishing house Editpress launched the commuter newspaper L’Essentiel, which has become very successful.

Further information on 20 Minuten and Tamedia
20 Minuten AG belongs to Tamedia with its registered office in Zürich. With daily and weekly newspapers, magazines, online platforms and newspaper printing houses Tamedia is among the leading media enterprises in Switzerland. The media of Tamedia Ltd and its subsidiaries Tamedia Publications romandes and Espace Media with their independent reporting and their critical research make an important contribution to shaping public opinion and with entertaining stories from all areas of life generate plenty of topics for discussion. The company was founded in 1893 and has been listed on the Swiss stock exchange since 2000.

Zurich, 5 November 2012 – jobs.ch Holding AG, the Ringier media enterprise and the Tamedia media group are pleased with the decision of the Swiss Competition Commission to approve the takeover of jobs.ch Holding AG by the two media companies. The time when the takeover of jobs.ch Holding AG by Ringier and Tamedia will be completed has not yet been determined. Among other endeavors, jobs.ch Holding AG operates jobs.ch, the job platform with the widest coverage in the Swiss market, and topjobs.ch, the Swiss online employment market for executives. It also holds a 49 percent interest in the Austrian online job site karriere.at. The Austrian Competition Authority has already approved the takeover of the interest in karriere.at on 17 October 2012.

As a result of the cooperation between Ringier and Tamedia, jobs.ch Holding AG will be in Swiss hands again. The two media companies intend to jointly expand the innovative job platforms in an increasingly inter­natio­nal competitive environment and develop cross-language solutions for job seekers and corporate clients. Ringier and Tamedia will each hold 50 percent of jobs.ch Holding AG.

Immediately following the completion of the takeover, the job markets alpha.ch, jobup.ch and jobwinner.ch will be integrated into jobs.ch Holding AG. The management of jobs.ch Holding AG will remain the same under the leadership of CEO Mark Sand­meier.

Zurich, 12 September 2012 - The media company Ringier and the Tamedia media group plan to jointly takeover jobs.ch Holding Ltd. Among other things, this company operates one of the most extensive job search platforms, jobs.ch, on the Swiss market, in addition to the Swiss online executive job search platforms, topjobs.ch, and also holds a 49 per cent stake in the Austrian online job search platform karriere.at. In 2007, the US investment company Tiger Global Management took a majority stake in jobs.ch from its founders, and has gone on to successfully develop the company since then.

Through the cooperation of Ringier and Tamedia, jobs.ch Holding Ltd is now back in Swiss hands. Together, the two media companies wish to further expand the innovative job search platform in an increasingly internationally competitive field and to develop multilingual solutions for job seekers and corporate clients. Ringier and Tamedia shall each hold 50 per cent of jobs.ch Holding Ltd. In addition, Tamedia will bring its online job search subsidiary Jobup Ltd into the partnership. Jobup Ltd operates one of the leading job search portals in French-speaking Switzerland, jobup.ch, as well as the job search platforms jobwinner.ch and alpha.ch.

Jobs.ch Holding Ltd can look back at over 10 years of successful growth, from start up to the most innovative and successful online company on the Swiss job market. In 2011, jobs.ch Holding Ltd achieved net earnings of CHF 45.9 million, with EBIT results of CHF 20.2 million. The enterprise value of relevance for the sale comprising 100 per cent of the share capital of jobs.ch Holding Ltd, amounts to CHF 390 million. Jobup Ltd to be brought into the partnership by Tamedia, is valued at CHF 120 million. In addition, both partners have agreed upon sale and purchase options which will allow Ringier to consolidate its holdings according to Swiss GAAP FER, and Tamedia to consolidate according to IFRS.

After the takeover, jobs.ch Holding Ltd will continue to be run by its current management, under the leadership of CEO Mark Sandmeier. The deal is subject to the consent of the Swiss Competition Commission and the Austrian Competition Authority.

Zurich, 10 September 2012 – Rolf Bollmann has voluntarily given up the management of Tamedia’s company division Zurich Media to take up new tasks. On Monday, 10 September 2012 the regional newspapers, gazettes and news platforms in the Zurich area, along with the Berne media house Espace Media, will be combined into the new company division Regional Media German-speaking Switzerland headed by Ueli Eckstein. With Ueli Eckstein, Regional Media German-speaking Switzerland will be placed under the management of an experienced publisher. The 60-year old headed the company division Espace Media since 2009, and previously acted as deputy CEO of AZ Medien, deputy publishing director of Tages-Anzeiger and publishing head of SonntagsZeitung.

Rolf Bollmann’s retirement was previously announced in June, however it was originally planned for 2013. The 64-year old was a member of Tamedia’s general management since 2005 and became the head of the company division Zurich Media in 2008. Before his appointment to the general management, he created the commuter newspaper 20 Minutes in 1999, and as its CEO, he considerably contributed to its successful development. Rolf Bollmann will continue to assist Tamedia in the further development of regional media in the Zurich area until the end of 2014 on a consultancy basis. As such he will also continue his office as director on the boards of Glatttaler AG, Tagblatt der Stadt Zürich AG, Ziegler Druck- und Verlags AG and of Zürcher Regionalzeitungen AG.

The board of directors and the general management of Tamedia express their thanks to Rolf Bollmann for his longstanding commitment and successful work and wish him all the very best for the future.

Zurich, 30 August 2012 – Tamedia’s half-year figures for 2012 reflect the developments that have taken place in the Swiss advertising market. The advertisement statistics compiled by the Swiss media association (Verband Schweizer Medien) indicate a fall of 12 per cent for print media in terms of net advertising revenues and a 10 per cent drop in the case of daily newspapers. Meanwhile, job advertisements were dealt a particularly severe blow, down by 23 per cent compared with the first six months of 2011. Tamedia’s revenues duly fell by 5.4 per cent to CHF 524.0 million (previous year: CHF 554.2 million). Two thirds of this fall can be attributed to the Print Regional business division. The revenues recorded by the Digital business division were lower than expected. The business division contributed 12.1 per cent (previous year: 11.1 per cent) to total revenues, while the Print Regional business division contributed 47.2 per cent (previous year: 48.7 per cent). The Print National business division once again delivered a strong performance, contributing 40.8 per cent to total revenues (previous year: 40.2 per cent).

The lower advertising revenues also had an impact on income. Operating income before depreciation and amortisation (EBITDA) fell by 22.5 per cent to CHF 89.3 million (previous year: CHF 115.1 million). The EBITDA margin is now 17.0 per cent (previous year: 20.8 per cent). Operating income (EBIT) fell by 31.6 per cent to CHF 60.3 million (previous year: CHF 88.1 million). The EBIT margin is 11.5 per cent (previous year: 15.9 per cent). Net income from continuing operations declined to CHF 59.3 million (previous year: CHF 87.3 million). Radio and TV stations in particular, along with specialist agricultural and car magazines, are not included in continuing operations. Total comprehensive income including discontinued operations now amounts to CHF 73.7 million (previous year: CHF 87.7 million). Special items totalling CHF 19.5 million are included in this figure. These comprise gains (after tax) from the disposal of Capital FM, TeleBärn and TeleZüri activities, totalling CHF 14.2 million, and the decrease of CHF 5.3 million in the expected amount of the last instalment towards the purchase price obligation for Edipresse Suisse.

Key Figures

¹ The figures of the prior period have been adjusted with retroactive effect due to the reclassification of discontinued operations.

Print Regional
The revenue of the Print Regional business division decreased by 11.7 per cent to CHF 278.4 million. In what was a negative market environment, most regional daily and weekly newspapers recorded lower revenues than during the first half of the previous year. Particularly marked falls in revenue were recorded by Tages-Anzeiger with its job supplements Alpha and Stellen-Anzeiger, as well as by 24heures and Tribune de Genève. Half of the fall in revenue recorded by the Print Regional business division was due to a decrease in sales of job advertisements. In contrast, printing facilities, which are also included in the Print Regional business division, exceeded expectations. The stable readership figures for regional dailies was another gratifying aspect. Operating income before depreciation and amortisation (EBITDA) for the Print Regional business division fell from CHF 52.8 million to CHF 41.7 million. This equates to what remains a sound EBITDA margin of 15.0 per cent (previous year: 16.7 per cent). Operating income at EBIT level also fell, down from CHF 34.2 million to CHF 22.7 million. The EBIT margin is now 8.2 per cent (previous year: 10.8 per cent).

Print National
The revenues recorded by the Print National business division declined by only 4.2 per cent to CHF 214.0 million. The lower figure can mainly be attributed to Femina, Finanz und Wirtschaft, Le Matin and SonntagsZeitung. The 20 Minuten commuter newspapers and the magazines Annabelle, Das Magazin and Schweizer Familie were able to largely maintain the previous year’s revenue figures. The business magazine Bilan and the Ticino commuter newspaper 20 minuti, which moved into the black during only its second half-year, were included in the figures for the first time. With operating income before depreciation and amortisation (EBITDA) of CHF 51.4 million (previous year: CHF 56.2 million), the Print National business division has once again demonstrated its earning power. Meanwhile, income levels fell with regard to the publications Finanz und Wirtschaft and Le Temps, which are highly dependent on the financial market, and with regard to the women’s magazine Femina. Operating income (EBIT) was down from CHF 53.5 million to CHF 48.6 million. This puts the EBIT margin at a pleasing 22.7 per cent, slightly below the previous year’s level (23.9 per cent).

Digital
The online media reported under the Digital business division were able to maintain their revenue levels for the greater part, with a drop of only 1.0 per cent to CHF 63.5 million. Both 20 Minuten Online and the Newsnet platforms once again strongly expanded their reach over the previous year. Investment in editorial teams and the expansion of the advertising and service portals did not prove as profitable as had been hoped. Both 20 Minuten Online and Newsnet developed less favourably than expected. In contrast, the real estate portal homegate.ch recorded renewed growth in revenues, whilst the Jobup jobs portals felt the effects of the sluggish labour market and, in common with the car4you.ch site and the small ads platform piazza.ch, suffered a fall in revenues. Other factors impacting on income levels included investments in the successful expansion of the directory platform search.ch and the costs associated with the now abandoned auction platform scoup.ch. The Digital business division’s operating income before depreciation and amortisation (EBITDA) fell by CHF 10.0 million to CHF –3.8 million (previous year: CHF 6.2 million). Operating income (EBIT) was also negative, at CHF –11.0 million (previous year: CHF 0.5 million). The EBIT margin is now –17.3 per cent (previous year: 0.8 per cent).

The expansion of the Digital division progressed further in the first half-year 2012. After receipt of the consent of the competition commission, 20 Minuten AG acquired a 25.8 percent investment in the Italian language news portal tio.ch. Since summer 2011, 20 minuti – the youngest member of the 20 Minuten media union – and tio.ch had already exchanged content on a partnership basis. Also after receiving the consent of the competition commission, homegate AG took over 20 percent of the real estate portal immostreet.ch as of 31 July 2012. The investment will be increased to 100 percent by 2016 at the latest. 

Overview segment information

¹ Operating revenues

² Operating income before depreciation and amortisation

³ Operating Income

⁴ The figures relating to the prior period have also been adjusted with retroactive effect due to the reclassification of the discontinued operations.

Zurich, 10 July 2012 – Mr. Charles von Graffenried passed away last night. The founder of Espace Media has been a member of the Board of Directors of the Swiss media group Tamedia since 2007.

The Board of Directors, the Management Board and the employees of Tamedia mourne for Mr Charles von Graffenried and express their condolences to his family.

20 June 2012, Zurich - Starting July 2013, the regional daily newspapers and other publications of Tamedia in German-speaking Switzerland as well as Newsnet shall be combined into the new company division Regional Media German-Speaking Switzerland. Ueli Eckstein will take over management of this division which shall unite the previous company divisions Espace Media and Zurich Media. He shall manage the company division from Bern. Within one and the same company division, the following daily papers should benefit from the exchange in experiences and synergies: BZ Berner Zeitung, BZ Langenthaler Tagblatt, Der Bund, Tages-Anzeiger, Zürcher Unterländer and Zürichsee-Zeitung, as well as the company's interests in BO Berner Oberländer, TT Thuner Tagblatt, Der Landbote and the Zürcher Oberländer. Combining the two company divisions - which had been separated from their radio and TV activities over the last few months - will also allow for economies at the management level. The editors in chief of the daily newspapers shall remain directly subject to the company's management, same as the publishing heads. In publicist issues, the editors in chief shall continue as hitherto to report directly to the publisher Pietro Supino.

Ueli Eckstein joined the Tamedia Media Group in 2009 as head of Espace Media. Over the last three years, he was responsible, inter alia, for the successful implementation of the collaboration between Der Bund and the Tages-Anzeiger, the sale of Capital FM and TeleBärn, as well as the pending incorporation of the BZ Langenthaler Tagblatt into the Berner Zeitung Group. Previously, the 59 year old Eckstein was active as the deputy CEO of AZ Media. In July 2013, the hitherto head of Zurich Media Rolf Bollman shall reach the ordinary retirement age and will continue to be active for Tamedia on a project basis. Since 2005, the 64 year old Bollman has been a member of the executive management and was previously a founding partner of the commuter paper 20 Minuten.

As of 1 January 2013, the commuter paper 20 Minuten in the German-speaking part of Switzerland, as well as in the French and Italian-speaking parts, in Luxembourg, the People-Magazine Friday as well as all digital issues of 20 Minuten Online, tilllate.com und lessentiel.lu shall become an independent business unit. The creation of the new company division gives credit where credit is due with regard to the significance of 20 Minuten within the Tamedia Media Group. Management of the company division shall be assumed by the hitherto managing director Marcel Kohler, who shall then also take up his place in the executive management of Tamedia.

Since 2006, the 52-year old Marcel Kohler has led the media group 20 Minuten. In the last six years, Marcel Kohler made a significant contribution to the successful establishment of the commuter paper 20 minutes and 20 minuti as well as to the strengthening of the digital publication 20 Minuten Online. As a member of the board of directors of Edita SA, he also supported the launch of the commuter paper L'essentiel in Luxembourg. Previously, he served for almost 20 years at the Neue Zürcher Zeitung and the Publicitas-subsidiary NZZ Media.

Christoph Brand has broad experience in the telecommunications and information technology sectors, both at home and abroad. After studying economics at the University of Bern he joined Swisscom in 1995 and in 1998 assumed the management of the then largest Swiss Internet provider Bluewin, whose expansion he shaped significantly. In 2002 the now 42 year old Brand returned to Swisscom where he was last active in the role of Chief Strategy Officer and thus a member of the management board. In 2006 he became the head of the telecommunications firm Sunrise and implemented a successful growth strategy. In addition to his operational tasks he was also a member of the board of directors for companies such as Directories, Cinetrade, Swisscom Mobile and Micronas.

Tamedia Digital comprises all commercial online activities of the company such as the directory and service portal search.ch, the job platforms alpha.ch, jobup.ch and jobwinner.ch, the vehicle marketplace car4you.ch, the real estate portal homegate.ch, the small classifieds platform piazza.ch, as well as the dating site swissfriends and the company's interests in sites such as fashionfriends.ch, jobsuchmaschine.ch, olmero.ch, renovero.ch and zattoo.ch Under Christoph Brand's leadership, Tamedia's digital activities will further pursue their trajectory of robust expansion.

The board of directors and the management board of Tamedia wish Christoph Brand the greatest success in his new responsibilities.

Zurich, 4 April 2012 – Tamedia’s revenues (operating revenues) rose by 48.3 per cent, or CHF 360.1 million, to CHF 1,105.1 million. The media companies from Edipresse Suisse and additional acquisitions contributed another CHF 348.4 million to the revenue increase. Operating income before depreciation and amortisation (EBITDA) increased by CHF 79.8 million, or 54.8 per cent, to CHF 225.6 million. The EBITDA margin rose from 19.6 per cent in the previous year to 20.4 per cent in 2011. Operating income (EBIT) rose by 48.9 per cent, or CHF 55.4 million, and now amounts to CHF 168.8 million. The EBITDA margin climbed from 15.2 per cent during the previous year to 15.3 per cent. The reported net income for 2011 of CHF 178.8 million represents an increase of 61.4 per cent, or CHF 68.0 million, compared with the previous year’s level of CHF 110.8 million.

Group employees participate with a total of CHF 8.0 million in the result within the context of a profit-sharing programme. The distribution takes place within the context of two separate profit-sharing programmes for the company divisions Tamedia and Edipresse Suisse. Effective 2012, all employees participate in the profit-sharing programme of Tamedia.

Sale of total of 21 media and participations
A total of 21 media and participations were sold within the context of implementing the renewed company strategy over the past 12 months. Sales prices totalling CHF 103.0 million were achieved, of which CHF 17.1 million are attributed to the business year 2011. Book profit amounts to CHF 25.6 million, of which CHF 4.9 million were entered affecting operational results in the reporting year. Additional book profit of CHF 20.7 million is expected for the business year 2012.

The separately disclosed discontinued operations, which mainly concern radio and television participations, had revenues of CHF 61.8 million (previous year: CHF 82.6 million) and a profit of 10.2 million at EBITDA level (previous year: CHF 10.1 million). The EBIT of the discontinued operations was CHF 6.5 million (previous year: CHF 3.1 million) and the net income was CHF 1.7 million (previous year: CHF 1.4 million).

¹     Request of the Supervisory Board / Distribution from reserve from capital investment

²                Equity capital to balance sheet total

³        The margin refers to the operating revenue

⁴        Number of full-time positions in continued operations

Print Regional: Result improvement despite structural challenges
The results recorded by the Print Regional business division, which are being reported in this form for the first time, are dominated by the sluggish pace of the economy as a whole and by structural changes. Falling advertising revenues and circulation figures, coupled with stagnating readership levels, contrast with improvements on the cost side. In addition to individual editorial teams and publishers, central services such as the print facilities are also making a key contribution to the division’s targeted improvement in its result.

Revenues (operating revenues) recorded by the Print Regional business division in 2011 rose by 46.6 per cent to CHF 531.8 million (previous year: CHF 362.9 million). The growth in revenues is almost exclusively attributable to the first-time inclusion of regional media and of the printing centre in French-speaking Switzerland. Further contributors to growth were the newspapers Zürichsee-Zeitung, Zürcher Unterländer and Neues Bülacher Tagblatt, which were only included for eight months of the previous year. The measures introduced with regard to various different media during the previous year resulted in a rise in operating income before depreciation and amortisation (EBITDA), which increased by 87.2 per cent to CHF 98.3 million (previous year: CHF 52.5 million). The EBITDA margin, at 15.9 per cent, was thus significantly higher than in the previous year (13.3 per cent).

Print National: Substantial profitability with robust development of revenues
Overall, the Print National business division recorded a more robust performance than the regional dailies and weekly newspapers in terms of revenues. However, the media included in this business division fared very differently. Whilst the division is home to projects for growth and to newspapers and magazines with extremely successful track records stretching back many years, it also includes media that are facing structural challenges.

Revenues (operating revenues) from third parties recorded by the Print National business division in 2011 rose by 46.0 per cent to CHF 447.4 million (previous year: CHF 306.3 million). This growth can be attributed to the first-time inclusion of the national media in French-speaking Switzerland, the positive development of the commuter newspaper 20 minutes and the newly launched Italian-language edition 20 minuti in Ticino. Operating income before depreciation and amortisation (EBITDA) increased by 41.2 per cent to CHF 114.5 million as a result (previous year CHF 81.1 million). The EBITDA margin, at 25.5 per cent, was slightly down on the previous year (26.3 per cent).

Digital: Revenues already at CHF 125.9 million thanks to strong growth
Despite the cautious attitude prevailing in the advertising market, the Digital business division’s platforms benefited last year from the continuing shift of advertising investments. At the same time, Tamedia invested a sum in the tens of millions in the expansion of existing platforms and in new projects. These investments, along with new participations, boosted the number of employees in the Digital business division by 72 per cent to around 493 full-time equivalents.

Revenues (operating revenues) from third parties in the Digital business division rose by 66.1 per cent in 2011 to CHF 125.9 million (previous year: CHF 75.8 million). The first-time inclusion of digital media in French-speaking areas and the positive development of marketplaces for real estate and job vacancies contributed to the considerable sales growth. Investment totalling a sum in the tens of millions in the creation of new offerings and the expansion of the 20 Minuten Online and Newsnet news platforms, as well as of the service platform search.ch, had a negative impact on earnings. Operating income before depreciation and amortisation (EBITDA) rose by 5.4 per cent to CHF 12.8 million (previous year: CHF 12.1 million). The EBITDA margin, at 9.6 per cent, was significantly down on the previous year (14.9 per cent).

Presentation to the media and analyst information
The presentation to the media is taking place at the headquarters of Tamedia at Werdstrasse 21 in Zurich at 10 a.m. today, Wednesday, 4. April 2012. An analyst conference at 12:30 as well as a conference call at 6 p.m. will also be held for analysts and investors.

Baden, Berne and Zurich, 12 December 2011 – BT Holding is taking over Radio 24 from Tamedia. Under the umbrella of BT Holding, the leading Swiss private radio network is being created with Radio 24 and Radio Argovia with broadcasting regions in the cantons of Aargau, Glarus, Solothurn and Zurich. Radio 24, the largest private radio in Switzerland with over 300,000 listeners each day (RadioControl 1st half-year 2011, Monday through Friday) is to be continued as an independent station in Zurich. All 33 employees (29.7 full-time positions) of the station will continue to be employed by BT Holding.

The transition of the license from Radio 24 must be approved by the Department of the Environment, Transport, Energy and Communication in accordance with the radio and TV law and will become effective after this agreement has been submitted. The marketing organisation Belcom, in which the sales teams of Radio 24 and TeleZüri are pooled, will go over to AZ Medien on 1 January 2012 with all 27 employees (22.7 full-time positions). BT Holding AG holds a majority in AZ Medien AG. With the sale of Belcom AG, it is ensured that Radio 24 and the TV station TeleZüri will continue to be able to appear together on the advertising market.

The media company Tamedia had decided to consider a sale of its TV stations as well as radio stations and specialist media in April of this year within the framework of the merger with Edipresse Suisse. At the end of August 2011, Tamedia had already announced the sale of TeleBärn and TeleZüri to AZ Medien.

AZ Medien Plans to Hand Over the Majority to Radio 32

At present, AZ Medien AG operates the leading radio station in the Solothurn area with Radio 32. Because the radio and TV law limits the number of private radio franchises controlled by one majority shareholder to two, AZ Medien is planning to start negotiations with possible partners to sell its majority share of currently 61.3 percent in Radio 32.

Espace Media Acquires Langenthaler Tagblatt from AZ Medien

The Espace Media Group, a subsidiary of the media company Tamedia, is taking over the Langenthaler Tagblatt with all 11 employees (9.6 full-time positions) from AZ Medien. This daily newspaper for the Langenthal region reaches about 18,000 readers each day with a circulation of 8,152 copies (Wemf 2011).

The Langenthaler Tagblatt is to be joined with the Oberaargau regional edition of the BZ Berner Zeitung. The new newspaper resulting from this will bear the title Langenthaler Tagblatt. The new daily newspaper will reach more than 50 percent of the inhabitants in Oberaargau. A strong daily newspaper for the Langenthal und Oberaargau region will thus be created following the necessary approval by the Swiss Federal Competition Commission.

It has been agreed upon to maintain silence concerning the details of the contracts.

Berne and Stäfa, 12 December 2011 - Zürichsee Medien AG is taking over the Berne capital city radio Capital FM from Medienhaus Espace Media. Together with Radio Zürisee, a strong station network is thus being formed in the regions of Berne, Winterthur and Zurich under the umbrella of Zürichsee Medien AG. Capital FM and Radio Zürisee reach about 285,000 listeners each day (RadioControl Public Data, 2nd Quarter 2011) in the network.

The anchoring of Capital FM in the Berne region is to be maintained; at the same time, the Berne station is intended to profit from an intensive exchange with Radio Zürisee in the areas of programme, technology and sales. Zürichsee Medien AG is taking over all the employees of Capital FM as well as the employees of the advertising market of audiovisual media who were until now primarily active in radio. A total of 28 employees (22.4 full-time positions) will go to Zürichsee Medien AG, to which the magazine marketer Zürichsee Werbe AG belongs as well as Radio Zürisee.

The parent company of Espace Media, Tamedia, is thus also separating from its radio station in Berne following the sale of TeleBärn and TeleZüri to AZ Medien at the end of August. The enterprise had decided in April of this year, within the framework of the merger with Edipresse Suisse, to consider a sale of its radio and TV stations as well as its specialist media.
The transition of the license from Capital FM must be approved by the Department of the Environment, Transport, Energy and Communication (UVEK) in accordance with the radio and TV law. It was agreed upon to maintain silence concerning the details of the sale that is subject to the proviso of this agreement through the supervisory authorities.

Baden, Berne and Zurich, 12 December 2011 - BT Holding is taking over Radio 24 from Tamedia. Under the umbrella of BT Holding, the leading Swiss private radio network is being created with Radio 24 and Radio Argovia with broadcasting regions in the cantons of Aargau, Glarus, Solothurn and Zurich. Radio 24, the largest private radio in Switzerland with over 300,000 listeners each day (RadioControl 1st half-year 2011, Monday through Friday) is to be continued as an independent station in Zurich. All 33 employees (29.7 full-time positions) of the station will continue to be employed by BT Holding.

The transition of the license from Radio 24 must be approved by the Department of the Environment, Transport, Energy and Communication in accordance with the radio and TV law and will become effective after this agreement has been submitted. The marketing organisation Belcom, in which the sales teams of Radio 24 and TeleZüri are pooled, will go over to AZ Medien on 1 January 2012 with all 27 employees (22.7 full-time positions). BT Holding AG holds a majority in AZ Medien AG. With the sale of Belcom AG, it is ensured that Radio 24 and the TV station TeleZüri will continue to be able to appear together on the advertising market.

The media company Tamedia had decided to consider a sale of its TV stations as well as radio stations and specialist media in April of this year within the framework of the merger with Edipresse Suisse. At the end of August 2011, Tamedia had already announced the sale of TeleBärn and TeleZüri to AZ Medien.

AZ Medien Plans to Hand Over the Majority to Radio 32
At present, AZ Medien AG operates the leading radio station in the Solothurn area with Radio 32. Because the radio and TV law limits the number of private radio franchises controlled by one majority shareholder to two, AZ Medien is planning to start negotiations with possible partners to sell its majority share of currently 61.3 percent in Radio 32.

Espace Media Acquires Langenthaler Tagblatt from AZ Medien
The Espace Media Group, a subsidiary of the media company Tamedia, is taking over the Langenthaler Tagblatt with all 11 employees (9.6 full-time positions) from AZ Medien. This daily newspaper for the Langenthal region reaches about 18,000 readers each day with a circulation of 8,152 copies (Wemf 2011).

The Langenthaler Tagblatt is to be joined with the Oberaargau regional edition of the BZ Berner Zeitung. The new newspaper resulting from this will bear the title Langenthaler Tagblatt. The new daily newspaper will reach more than 50 percent of the inhabitants in Oberaargau. A strong daily newspaper for the Langenthal und Oberaargau region will thus be created following the necessary approval by the Swiss Federal Competition Commission.

It has been agreed upon to maintain silence concerning the details of the contracts.

Geneva, Lausanne and Zurich, 7 November 2011 - The Swiss media company Tamedia is expanding its magazine portfolio and acquires the magazines Bilan and Tribune des Arts from the Edipresse Group. The acquisition completes the merger of the Swiss media operations of Edipresse and Tamedia.

The business magazine Bilan, which is published every two weeks, strengthens the successful magazine portfolio of Tamedia in the German- and French-speaking areas of Switzerland. The editorial boards of Bilan and Finanz und Wirtschaft have already jointly published the luxury magazine Luxe par Bilan since November 2010. This co-operation of the two independent editorial boards has proven its worth and is to be expanded further for national topics. Bilan reaches a readership of 95,000 persons with a print run of 13,111 copies.

The magazine Tribune des Arts is published monthly and is the reference magazine for all aspects of timepiece craftsmanship and art. The magazine has been published since 1979 and is a supplement in the Tribune de Genève. The Tribune des Arts is read by approximately 140,000 persons and is published in co-operation with 24 heures in March and December in a large print run with the focal points of timepieces and jewelry.

The acquisition is subject to approval by the Swiss Competition Commission.

Lausanne and Zurich, 4 November 2011 – Tamedia has named a successor to the de­signa­ted Chief Executive Officer Christoph Tonini. Effective 1 January 2012, Serge Reymond will also be responsible for the corporate division of media in German-speaking areas of Switzer­land with the Tamedia magazines, Finanz und Wirtschaft as well as Sonn­tagsZeitung. Serge Reymond, 48 years old, has been the managing director of Edi­presse Suisse since 2009 and has also been a member of the executive board of Tamedia as holder of this position since may 2011. He has played a decisive role in the successful merger of two companies in Switzerland over the past two years.

Christoph Tonini, who will take over from Martin Kall as Chief Executive Officer in 2013, will retain direct responsibility for the corporate division «Digital & 20 Minuten» until the end of 2012.

Under the management of Serge Reymond, teams from the two, still independently orga­nized corporate divisions will expand and implement the already developed projects for new media offers. In addition, exchanges of ideas and experience will be expanded further between Edipresse Suisse and media in the German-speaking areas of Switzerland across language barriers. The Board of Directors and the Management Board of Tamedia wish Serge Reymond and the project teams in the German- and French-speaking areas of Switzerland all the best.

Lausanne and Zurich, 4 November 2011 - Tamedia has named a successor to the designated Chief Executive Officer Christoph Tonini. Effective 1 January 2012, Serge Reymond will also be responsible for the corporate division of media in German-speaking areas of Switzerland with the Tamedia magazines, Finanz und Wirtschaft as well as SonntagsZeitung. Serge Reymond, 48 years old, has been the managing director of Edipresse Suisse since 2009 and has also been a member of the executive board of Tamedia as holder of this position since may 2011. He has played a decisive role in the successful merger of two companies in Switzerland over the past two years.

Christoph Tonini, who will take over from Martin Kall as Chief Executive Officer in 2013, will retain direct responsibility for the corporate division «Digital &20 Minuten» until the end of 2012.

Under the management of Serge Reymond, teams from the two, still independently organized corporate divisions will expand and implement the already developed projects for new media offers. In addition, exchanges of ideas and experience will be expanded further between Edipresse Suisse and media in the German-speaking areas of Switzerland across language barriers. The Board of Directors and the Management Board of Tamedia wish Serge Reymond and the project teams in the German- and French-speaking areas of Switzerland all the best.

The Swiss media company, Tamedia increased its turnover in the first half-year by  55.1 per cent to CHF 558.9 million (previous year CHF 360.3 million). The integration of Edipresse Suisse contributed significantly to this result. The share of revenues of the fast-growing Digital business division amounted to 11.0 per cent (previous year 9.5 per cent). At CHF 88.7 million, the EBIT has almost doubled in comparison with the previous year (CHF 46.7 million). The net income from continuing operations now amounts to CHF 87.5 million (previous year: CHF 48.1 million). Martin Kall will hand over his responsibilities at the beginning of 2013 to his current deputy and designated successor Christoph Tonini. As of this point in time Martin Kall is expected to be elected to the Board of Directors.

Zurich, 31 August 2011 -  The media company Tamedia again increased its net income in the first six months of the year 2011 and shows the best half-year result of the last ten years. The first-time consolidation of Presse Publications SR S.A. (Edipresse Suisse) contributed significantly to this result. The turnover grew by 55.1 per cent to CHF 558.9 million (previous year CHF 360.3 million). The new segment reporting underlines the growing importance of digital media at Tamedia. The external share of revenues of the fast-growing Digital business division amounts to 11.0 per cent (previous year 9.5 per cent). The Print Regional business division contributed 53.4 per cent (previous year 47.9 per cent), the Print National business division 35.6 per cent (previous year 42.6 per cent) to revenues. The company’s operating expense rose a disproportionately low 49.2 per cent to CHF 443.1 million.

The operating income before depreciation and amortisation (EBITDA) increased by a substantial 82.7 per cent to CHF 115.8 million (previous year: CHF 63.4 million). The EBITDA-margin increased markedly and is now at a pleasing 20.7 per cent (previous year: 17.6 per cent). At CHF 88.7 million, Tamedia’s operating income (EBIT) for the first half of 2011 is almost double the previous year’s figure (CHF 46.7 million). The EBIT margin is 15.9 per cent (previous year: 12.9 per cent). The net income from continuing operations rose to CHF 87.5 million (previous year: CHF 48.1 million). Radio and TV stations and the automobile specialist media are not included in the continuing operations. The net income including discontinued operations now amounts to CHF 87.7 million (previous year: CHF 52.5 million).

After recovering in the previous year, advertising exposure rose only slightly in the first six months 2011. The advertising statistics of the Swiss Media Association (Verband Schweizer Medien) indicate growth of 2 per cent for print media in terms of net advertising revenues and 1 per cent for the daily newspapers. Job advertisements were up a pleasing 4 per cent while real estate advertisements declined by 9 per cent.

Change in the Management Board
Martin Kall, Chairman of the Tamedia Management Board since April 2002, has decided to pursue a new career challenge from 2013. The Tamedia Board of Directors has nominated Christoph Tonini, the current Vice Chairman of the Management Board, as Martin Kall's successor when he leaves the company. Christoph Tonini, 41 years old and a member of the Management Board since 2003, was previously responsible for Finance, Services and Newspapers Switzerland and currently heads the Media Switzerland and Digital business divisions. Martin Kall is expected to be elected to the company's Board of Directors at the Annual General Meeting in 2013.

New segment reporting
The merger with Edipresse Suisse resulted in Tamedia’s introduction of new segment reporting by market. The Print Regional business division comprises all regional newspapers and gazettes. All areas that hitherto fell under the Services business division are being integrated into the Print Regional business division. The Print National business division comprises all newspapers and magazines that have a national focus. The integration of those areas, which operate almost exclusively for internal clients, into the Print Regional business division and the reporting of the two business divisions Print National and Digital enhance comparability with other media companies. The Digital business division, which is set to gain importance over the next few years, will for the first time encompass all online media.

Print Regional
The revenues of the Print Regional business division increased by 83.1 per cent to CHF 343.9 million. The growth is to be attributed mainly to the first-time consolidation of the titles of Edipresse Suisse, in particular to the 24 heures and Tribune de Genève dailies, which contributed CHF 137.3 million to the business division’s revenues. The Zürichsee-Zeitung and Zürcher Unterländer dailies, for the first time included for a full six months, also made a positive contribution to revenues. The revenues of the other newspapers registered mostly stable development. The printing centres, likewise now included in the new Print Regional business division, reported a renewed decline in revenues due to price adjustments. The improvement in the net income reported by the Print Regional business division is broadly based. The operating income before depreciation and amortisation (EBITDA) of the Print Regional business division jumped from CHF 23.6 million to CHF 51.3 million. Income at EBIT level more than tripled to  CHF 32.7 million over the previous year (CHF 9.9 million). The EBIT margin is now 9.5 per cent (previous year: 5.3 per cent).

Print National
The revenues of the Print National business division increased by 48.2 per cent to CHF 229.0 million. The growth was mainly to be attributed to the first-time consolidation of the titles of Edipresse Suisse, in particular to the Le Matin daily and the Le Matin Dimanche Sunday newspaper, as well as the now fully-consolidated French-speaking 20 minutes commuter newspaper, which contributed CHF 75.1 million. The 20 Minuten commuter newspaper and Annabelle women’s magazine once again made a positive contribution to the rise in revenues, whereas Schweizer Familie and Finanz und Wirtschaft had to contend with a fall in revenues. The revenues of the other print media registered mostly stable development. The development of net income - which was positive almost right across the board - led to an improvement in the operating income before depreciation and amortisation (EBITDA) of the Print National business division from CHF 37.3 million to CHF 58.3 million. The operating income (EBIT) improved to CHF 55.5 million (previous year: CHF 36.8 million). This put the EBIT margin at a pleasing 24.2 per cent, slightly above the previous year’s level (23.8 per cent).

Digital
The online media reported under the Digital business division continued their strong growth. The revenues of the Digital business division increased by 78.3 per cent to CHF 64.2 million. The online media of Edipresse Suisse and the car4you.ch online platform, which were consolidated for the first time, together with the now fully consolidated homegate.ch, jobup.ch and swissfriends.ch online platforms, contributed CHF 21.2 million to the growth. 20 Minuten Online and the Jobup job platforms continued to show pleasing growth. The search.ch directory platform likewise reported strong growth in revenues. The operating income before depreciation and amortisation (EBITDA) of the Digital business division improved by CHF 3.7 million to CHF 6.2 million (previous year CHF 2.5 million) despite high corporate spending in the expansion of the editing teams of 20 Minuten Online and Newsnetz as well as of search.ch. The operating income (EBIT) remained at a low level of CHF 0.5 million (previous year: CHF  0.1 million). The EBIT margin is now 0.8 per cent (previous year: -0.4 per cent).

Aarau and Zurich, 23 August 2011 - AZ Medien are taking over the two regional TV stations TeleBärn and TeleZüri of Tamedia. AZ Medien, who with Tele M11 already operate the second largest regional TV station in Switzerland in the Mittelland broadcasting area, are thus strengthening their position as one of the leading multimedia enterprises in Switzerland.
TeleBärn and TeleZüri are to be continued at their present locations in Berne and Zurich. Through a purposeful collaboration in technology and sales, a TV-station family is to be created out of the three stations, with a strong regional anchoring in the cantons of Aargau, Berne, Solothurn, and Zurich. AZ Medien are taking over all the employees of TeleBärn and TeleZüri as well as the employees in advertising marketing and sales who were until now active for TeleBärn and TeleZüri. A total of 150 employees (112 full-time jobs) will go over to AZ Medien.

The transfer of the license from TeleBärn, according to the Radio and TV Law, must be approved by the Department of Environment, Transport, Energy and Communication (UVEK). The parties have chosen not to disclose the details of the sale, which is still subject to the approval of this agreement by the supervisory authorities.

The media company Tamedia has decided in April of this year, within the framework of the merger with Edipresse Suisse, to examine a sale of the two TV stations as well as its radio stations and special interest media.

Zurich, 12 May 2011 - Expanding its online portfolio, Swiss media company Tamedia as a first step acquires a 49% stake in Doodle, the nationally and internationally leading scheduling platform. Further increases in Tamedia‘s stake are planned between 2013 and 2016. Until then, the founders Michael Näf and Paul E. Sevinç will remain involved in the company as managing directors and members of the board and Innovation Foundation of Schwyzer Kantonalbank as a minority shareholder.

Doodle will be an ideal addition to Tamedia’s strong online portfolio in Switzerland, which includes the news platforms 20 Minuten Online and Newsnetz, the online marketplaces car4you.ch and homegate.ch, the job platforms of Jobup AG and the shopping platform FashionFriends. A partnership with Switzerland’s leading directory platform search.ch aims to further strengthen Doodle’s position in the advertising market and in the SME segment. Together with the team around the founders Michael Näf and Paul E. Sevinç Tamedia also wants to continue growing with Doodle internationally.

Doodle AG operates the world’s leading scheduling platform under doodle.com. This free basic service is available in 29 languages and used by more than 8 million users every month. In addition to the basic service, Doodle offers paid premium services for individuals and companies. The award-winning startup headquartered at Technopark in Zurich has a total of 11 employees. The two parties have agreed not to disclose any details of the participation, which will be reported to the Swiss Federal Competition Commission.

further investments in online media - evaluation of sale of radio and TV activities and special interest media Mobil

Tamedia and Edipresse Switzerland have adopted a common business strategy with newspapers, magazines and online media as the core business. In view of the particularly unfavourable regulatory environment and modest potential synergies, the sale of the radio and TV activities and the special interest media Mobil is being evaluated. As a consequence of the merger of the two businesses, Tamedia is adapting its business organisation and will structure the segment reporting by markets. Board Member Karl Dietrich Seikel will not stand for re-election. Tibère Adler, Chief Executive Officer of Edipresse Group, will be proposed for election as a new member of the Board of Directors.

Lausanne und Zurich, 12 April 2011 - The media companies Tamedia and Edipresse Switzerland, which merge with the takeover of Edipresse Switzerland by Tamedia, have adopted a common business strategy. The core business remains newspapers and magazines with wide distribution and online media. In the coming years, Tamedia plans to further strengthen its newspapers and magazines and grow through investments in its online platforms and further participations in online businesses. Already in the year 2012, 25 per cent of the result is to be achieved with digital activities.

With the merger of Edipresse Switzerland and Tamedia, the fourth largest media company, after SRG SSR, Publigroupe and Ringier, is created with a turnover of CHF 1,169.2 million and operating income (EBIT) of CHF 151.9 million (each on the basis of 2010). The business employs a total of 3,398 people (full-time equivalents as per 31 December 2010). The principal locations are Berne, Geneva, Lausanne and Zurich.

Evaluation of the sale of radio and TV activities and special interest media Mobil
At the same time as adopting the new business strategy, Tamedia and Edipresse Switzerland have decided to evaluate the sale of the radio and TV activities, and also the special interest media Mobil with Automobil Revue and Revue Automobile. While Tamedia has in the past invested in Radio and TV stations, Edipresse Switzerland does not have any own activities in this area. In view of the limited potential synergies, and the uncertain allocation of licenses to Tamedia after the expiry of the existing transmission licenses, the business may therefore contemplate a sale of the four stations in spite of the strong positions of Radio 24, Capital FM, TeleBärn and TeleZüri. As a consequence, Edipresse Switzerland’s participation in La Télé is also no longer of strategic importance.

Decisive factors for a sale of the radio and TV stations, and the special interest media, will be, among others, whether a potential purchaser has a clear concept for the further development, whether future perspectives exist for the employees, and whether the sale price is convincing. Discussions with potential purchasers are to be commenced in the coming weeks. The evaluation is to be completed by the end of the year.

Karl Dietrich Seikel leaves the Board of Directors - Tibère Adler strengthens the Board of Directors
Karl Dietrich Seikel, a member of the Board of Directors of Tamedia since 1996, will not stand for re-election at the Annual General Meeting on 6 May 2011. The former Chief Executive Officer of Der Spiegel wishes to engage himself more in the German publishing world in the future. The Board of Directors very much regrets this withdrawal, thanks Karl Dietrich Seikel for his longstanding commitment to the company and for his important contribution to the development of the business, and will maintain a friendly relationship with him.
In consequence of the merger of Edipresse Switzerland and Tamedia, Tibère Adler, Chief Executive Officer of Edipresse Group since 2005, is to be elected to the Board of Directors of Tamedia. Born in Geneva in 1963, Tibère Adler qualified in law, absolved a Management Course at IMD in Lausanne, and has been with Edipresse Group since 1993. When he is elected to the Board of Directors of Tamedia, Tibère Adler will resign from all operational duties at Edipresse Switzerland.

New business organisation with business segment Digital
The merger with Edipresse Switzerland leads to the adaptation of Tamedia’s business organisation as from 1 May 2011. The new business organisation is intended to assure the proximity of the individual media to the users and advertisers and at the same time make possible the utilisation of the benefits of size in the service areas such as Printing, Production Services or IT. Edipresse Switzerland will continue to operate as a business segment under the management of Serge Reymond. The 47 year old mathematician and economist has been the Chief Executive Officer of Edipresse Switzerland since 2009 and was formerly the Chief Executive Officer of Naville S.A. and held a position in the Swatch Group. He will at the same time become a member of the Management Board of Tamedia.
The online marketplaces and the other online services will be strengthened with the creation of the new Digital Division headed by Christoph Tonini, the Vice Chairman of the Management Board. Ueli Eckstein remains responsible for the Espace Media Division, Rolf Bollmann for the Media Zurich Division and Christoph Tonini for the Media Switzerland Division in addition to the Digital Division. All production services and print activeties will be grouped together under the Publishing Services Division. Andreas Schaffner will remain responsible for the Publishing Services Division. The Finances Division combines under the Management of Sandro Macciacchini all financial, real estate and IT services of the company. With the Chairman of the Management Board, Martin Kall, the Management Board of Tamedia now comprises seven members.

Division

Manager

Media

(Selection)

Espace Media

Ueli Eckstein

BZ Berner Zeitung, Der Bund,
Newsnetz Bern, TeleBärn, Capital FM

Edipresse Switzerland

Serge Reymond

24 heures, 24heures.ch, Femina,
Le Matin, Le Matin Dimanche, lematin.ch, Tribune de Genève, tdg.ch, Participations

Media Zurich

Rolf Bollmann

Tages-Anzeiger, Newsnetz, Radio 24, TeleZüri, Zurich Regional Newspapers

Media Switzerland

Christoph Tonini

20 Minuten, 20 Minuten Online, SonntagsZeitung, Magazines

Digital

Christoph Tonini

car4you.ch, homegate.ch, jobup.ch, search.ch, swissfriends.ch, Participations

Publishing Services

Andreas Schaffner

Print Centers, Production Services

Finances

Sandro Macciacchini

Finances, IT, Real estate

Edipresse Switzerland and Tamedia standardise IT and bring it in house
The entire IT of the new business will be standardised step by step and handled completely in house as from 2013. The new IT will, based on the existing competences in Berne and Lausanne, be close to its internal customers with decentralised teams in Berne, Lausanne and Zurich. Tamedia had in 2004 outsourced the IT in Zurich to Swisscom IT Services. The respective contract expires at the end of 2012. 20 new jobs will be created through the standardisation of the IT and bringing it in house.

Segment reporting structured by markets
With the publication of the half-year results on 31 August 2011, Tamedia will introduce segment reporting structured by markets. The business segment Print Regional covers all regional newspapers and gazettes. The business segment Print National covers all newspapers and magazines with a wide distribution. All areas formerly included in the business segment Publishing Services will in future be included in the business segment Print Regional. The inclusion of these areas, which serve almost exclusively internal customers, in the business segment Print Regional, and the disclosure of the segments Print National and Digital, increases the comparability with other media businesses. The online media and radio and TV comprise together the business segment Digital, which will gain further in importance in the coming years.

Business segments

Media (selection)

Print Regional

24 heures, BZ Berner Zeitung, Der Bund, Tages-Anzeiger, Tribune de Genève, Zürcher Unterländer, Zürichsee-Zeitung, Anzeiger,
Reader-market Services, Print Centers

Print National

20 Minuten, 20 Minuten Friday, 20 minutes, Annabelle, Automobil Revue, Das Magazin, Femina, Finanz und Wirtschaft, L’essentiel,
Le Matin, Le Matin Dimanche, Schweizer Bauer, Schweizer Familie, SonntagsZeitung, Télé top matin 

Digital

20 Minuten Online, car4you.ch, homegate.ch, jobup.ch, lessentiel.lu, Newsnetz, search.ch, Radio and TV activities

At the time of the publication of the half-year results for 2011, Tamedia will also present the results for 2010 retroactively restated according to the new segment reporting.

profit (EBIT) jumps to CHF 112.4 million -  EBIT Margin reaches 13.9 per cent

The Swiss media company, Tamedia, increased its turnover in 2010 to CHF 806.3 million. Thanks to improving advertising income and a significant increase in efficiency, the company shows a jump in profit. The EBITDA amounts to CHF 151.7 million (EBITDA Margin 18.8 per cent) and the EBIT to CHF 112.4 million (EBIT Margin 13.9 per cent). The net profit, to which Presse Publications SR (Edipresse Switzerland) also contributed, climbed to CHF 110.8 million. All business divisions were profitable at the EBIT level. The Board of Directors proposes the distribution of CHF 4 per share.

Zurich, 12 April 2011 - The turnover (operating income) increased by 7.6 per cent or CHF 56.8 million to CHF 806.3 million. The positive development of the turnover is primarily due to the first time inclusion of the regional newspapers Zürcher Unterländer and Zürichsee-Zeitung, the commuter newspapers 20 Minuten and 20 minutes, the job platforms of Jobup and the platform search.ch, which was acquired at the beginning of 2010.

The operating result before depreciation, amortisation, interest and taxes (EBITDA) increased by CHF 61.5 million or 68.2 per cent to CHF 151.7 million. The main reasons for the broadly based improvement in the result are significant increases in efficiency and moderate growth in advertising investments. Significantly increased results in comparison to the previous year are shown in particular by the commuter newspaper 20 Minuten, BZ Berner Zeitung and Der Bund, the job platforms of Jobup as well as the Tages-Anzeiger. The EBITDA Margin increased from 12.0 per cent in the previous year to 18.8 per cent. The operating profit (EBIT) increased by 121.5 per cent or CHF 61.6 million to reach CHF 112.4 million. The EBIT Margin climbed from 6.8 in the previous year to 13.9 per cent. All business divisions were profitable at the EBIT level.

The net profit for 2010 of CHF 110.8 million is 137.3 percent or CHF 64.1 million higher than the previous year‘s figure of CHF 46.7 million. Whereas the share in the earnings of the associated companies was a loss of CHF -0.9 million in the previous year, it amounted to a profit of CHF 16.9 million in 2010. The 49.9 per cent participation in Presse Publications SR S.A. (PPSR), which comprises the significant Swiss media activities of Edipresse, made the major contribution.

Under the profit participation program, the employees of the company participate in the result with a total of CHF 4.2 million. The distribution is made at choice in cash or in shares.

The separately disclosed discontinued operations, which comprise in particular the sold Thurgauer Zeitung, achieved a turnover of CHF 13.4 million (previous year: CHF 78.2 million) and at the EBITDA level a profit of CHF 4.1 million (previous year: CHF -7.6 million). The EBIT of the discontinued operations amounted to CHF 4.0 million (previous year: CHF -8.2 million) and the net profit to CHF 3.3 million (previous year: CHF -4.3 million).

Newspapers: regional daily newspapers with much improved result
The turnover (operating revenues) from third parties of the Newspapers Division increased in 2010 by 9.5 per cent to CHF 510.5 million (previous year: CHF 466.3 million). The growth is particularly strong in the newly acquired daily newspapers Zürcher Unterländer and Zürichsee-Zeitung. Contributions to the positive development were also made by the commuter newspapers 20 Minuten and 20 minutes, and the commuter newspaper L’essentiel launched in Luxembourg in 2007, which achieved profitability earlier than expected. The regional daily newspapers showed only a weak growth in turnover, but improved their results significantly through increased efficiency. The adjustment of the internal billing prices for newspaper printing which was undertaken in 2010 lead to a significant decrease in the manufacturing costs charged. The operating profit (EBIT) increased by 546.6 per cent to CHF 65.1 million (previous year: 10.1 million). The EBIT margin is at 12.5 per cent significantly higher than that of the previous year (2.0 per cent).

Magazines: an important contributor to the result thanks to higher profitability
The turnover of the Magazines Division increased by 2.6 per cent to CHF 96.3 million (previous year: CHF 93.9 million). The satisfying development of 20 Minuten Friday and Schweizer Familie in particular had a positive effect on the advertising income of the Division. The manufacturing costs sank substantially thanks to new external printing contracts. The operating profit (EBIT) was at CHF 16.8 million significantly higher than in the previous year (CHF 11.5 million). With an EBIT margin of 17.4 per cent (previous year 12.2 per cent), the Magazines Division proved its significance as an important contributor to the result of the company.

Electronic Media: investments in online media pay off
The turnover of the Electronic Media Division increased by 23.6 per cent to CHF 112.7 million (previous year: CHF 91.2 million). The principal drivers of the growth were the news platforms, 20 Minuten Online and Newsnetz, the job platforms of Jobup as well as search.ch. In spite of the substantial investments in the development of the online platforms, the operating profit (EBIT) improved from CHF -1.4 million in the previous year to CHF 9.2 million. Both the growth in the turnover and the improvement in the result are due primarily to the online media. The EBIT margin of the Electronic Media Division increased from -1.5 per cent in the previous year to a gratifying 7.8 per cent.

Services: again high profitability in spite of sinking print prices
The turnover of the Services Division from third parties sank by 11.5 per cent to CHF 86.8 million (previous year: CHF 98.1 million) because of decreasing volumes and print prices. The operating profit (EBIT) is, at CHF 21.3 million, 30.3 per cent below the previous year’s result of CHF 30.6 million. The EBIT margin remains, although slightly below the previous year’s figure of 13.5 per cent, at a high level of 10.1 per cent. In the current year, the new printing strategy of Presse Publications SR and Tamedia should have a positive effect on the efficiency of the printing facilities.

The Board of Directors of Tamedia AG will propose to the General Meeting of Friday, 6 May 2011 in Zurich the distribution of CHF 4 per share out of the share premium reserve.

Based on the economic forecast of the State Secretariat for Economic Affairs, Seco, Tamedia anticipates moderate growth in investments in advertising in the current year and, over the course of the year, increasing turnover from job advertisements.

Merger with the Swiss business of Edipresse already in 2011
The merger of Edipresse Switzerland and Tamedia will, as announced by the two companies on 8 April 2011, already take place in 2011 instead of in 2013 as originally intended. This decision followed a successful first phase of the integration process, in which numerous synergy and growth projects could be realised.

The purchase price for the 49.9 per cent of the share capital of Presse Publications SR S.A. acquired early lies, depending on the business development of PPSR in the year 2012, between CHF 269.8 and 330.2 million in cash plus 250,000 registered shares of Tamedia and will be payable over a period of two years. Tamedia has paid a total of CHF 207.3 million to Edipresse for the first two investment steps. The temporary bank loan taken out for this purpose has already been repaid in full. The financing of the purchase price commitment which is still open is to be made primarily out of own funds and to the extent necessary through existing operational credit limits.

Presse Publications SR S.A. achieved in the past year a turnover (operating revenues) of CHF 362.9 million. The operating result before depreciation, amortisation, interest and taxes (EBITDA) amounted to CHF 63.7 million, and the operating income (EBIT) to CHF 39.5 million. The net profit for 2010 amounted to CHF 32.8 million.

Lausanne and Zurich, 8 April 2011 - The two media companies, Edipresse and Tamedia, have agreed to merge their Swiss business already in the coming months and not as of 1 January 2013 as originally intended. This decision followed a successful first phase of the integration process, in which numerous synergy and growth projects could be realised.

Tamedia had in 2010 taken over 49,9 per cent of the share capital of Presse Publications SR S.A. (PPSR), which encompasses the most significant Swiss media activities of Edipresse. At the beginning of 2011, the participation has been increased by a further 0,2 per cent of the share capital. Tamedia has paid a total of CHF 207.3 million to Edipresse for the first two investment steps. The purchase price for the 49,9 per cent of the share capital of PPSR acquired early lies, depending on the future business development, between CHF 269.8 and 330.2 million in cash plus 250,000 registered shares of Tamedia and will be payable over a period of two years.

Pierre Lamunière, Chairman of the Board of Edipresse Group, remains the Publisher of the media of Edipresse Switzerland, the Chairman of the Board of Presse Publications SR S.A. and a Board Member of Tamedia.

In the coming months, Edipresse Switzerland and Tamedia intend to realise synergies in the service areas and invest both in new media and in the development of existing media. A common business structure and organisation is to be achieved as a first step.

Presse Publications SR S.A. achieved turnover (operating revenues) of CHF 362.9 million in the past year. Edipresse Group will at its Media Conference today, Friday, 8 April 2011 at 10:30 am in the Tour Edipresse in Lausanne, provide information as to the results for 2010 and the merger. The Media Conference of Tamedia with detailed information on the early implementation of the merger and the development of PPSR and Tamedia during the past year will take place on Tuesday, 12 April 2011 at 10:15 am in Zurich.

Zurich, 25 November 2010 - Publicitas and Tamedia have signed a new contract to define their collaboration. This contract, which comes into force on 1 January 2011, covers all the newspapers and magazines run by Espace Media and Tamedia in German-speaking Switzerland. With the new contract, the two companies are continuing their longstanding partnership, simplifying administration and further extending the digitalization of interfaces.
"For Publicitas this agreement marks another milestone in the realization of the new business model, and especially in the implementation of our new strategy with its
core elements of portfolio and dedicated sales," says Beat Roeschlin, CEO Publicitas. The new contract replaces the existing agreement signed in 2007.

The Swiss media group, Tamedia, increased its turnover to CHF 386.4 million in the first half year of 2010 (previous year CHF 377.3 million). The increase is due in particular to the newly acquired media such as search.ch, the Zürcher Unterländer and the Zürichsee-Zeitung. The operating profit before depreciation and amortisation (EBITDA) increased by 154.4 per cent to CHF 66.1 million (previous year CHF 26.0 million) thanks to cost reduc-tion measures. The operating profit before depreciation and amortisation (EBIT) reached CHF 48.8 million (previous year CHF 9.1 million). A contribution to the result of CHF 10.8 million came from the participation of 49.9 per cent in Presse Publications SR S.A. (PPSR).

Zurich, 1 September 2010 - During the first half year of 2010, the media group, Tamedia, increased its sales moderately by 2.4 per cent to CHF 386.4 million (previous year CHF 377.3 million). The growth in sales results in particular from the newly acquired media such as search.ch, the Zürcher Unterländer and the Zürichsee-Zeitung. At the same time, the cost reduction measures implemented in the previous year led to a significant decrease in the operating expenses of 8.8 per cent to CHF 320.4 million. The operating income before depreciation (EBITDA) showed as a result a significant increase of 154.4 percent to CHF 66.1 million (previous year CHF 26.0 million). The EBITDA margin is now 17.1 percent (previous year 6.9 per cent). At CHF 48.8 million, Tamedia‘s operating income after depreciation and amortisation (EBIT) is significantly higher than in the previous year (CHF 9.1 million). The EBIT margin amounts to 12.6 per cent (previous year 2.4 per cent).

The result from the continued operations increased to CHF 49.9 million (previous year
CHF 5.7 million) in the first half year 2010. The newly acquired participation of 49.9 percent in Presse Publications SR S.A. (PPSR), which encompasses the Swiss media activities of Edipresse, contributed CHF 10.8 million to the result. Excluded from the continued operations are in particular the activities of the Thurgauer Zeitung, which was sold to the NZZ media group in mid-April 2010. The overall result including the discontinued operations now amounts to CHF 52.5 million (previous year CHF 0.8 million)

The advertising investments, which had continuously decreased since June 2008, have stabilised in the first half year 2010 at a significantly lower level. Individual months of the first half year show increasing advertising investments as compared to the previous year. The job advertisements, which react with some delay to an upswing in the job market, showed again with -8.8 per cent a decline. The total advertising sales of the Swiss press were, with an increase of 0.4 per cent in the first half year, marginally above the previous year’s figure, but were, however, with -18.5 per cent, still significantly below the figure for the first half year 2008. Tamedia expects largely stable advertising investments in the coming months.

Newspapers
The sales (operating revenues) of the Newspapers division increased by 0.4 per cent to CHF 255.0 million. The growth is due in particular to the publications Zürcher Unterländer and Zürichsee-Zeitung, which are included for the first time for two months, plus 20 Minuten and the SonntagsZeitung. On the other hand, the Berner Zeitung and the Tages-Anzeiger showed again decreases in sales. Tamedia’s regional daily newspapers closed the first half year just with a balanced result. The development of the Bund, which shows a balanced result for the first time in more than a decade, is encouraging. The operating income before depreciation and amortisation (EBITDA) of the Newspapers division improved, thanks in particular to the cost reduction measures introduced in the previous year, from CHF -2.2 million to CHF 30.6 million. The operating income (EBIT) increased to CHF 28.5 million (previous year CHF -3.7 million). The EBIT margin of 11.2 per cent is significantly higher than the previous year’s figure (-1.5 per cent).

Magazines
The sales (operating revenues) of the Magazines division increased by 0.6 per cent to CHF 48.4 million. Positive contributions to the operating revenues were made by the Schweizer Familie, the specialist media Mobil and the people magazine 20 Minuten Friday, which had been launched at the end of 2008. On the other hand, Annabelle and TVtäglich showed declines in sales in a difficult market environment. The operating income before depreciation and amortisation (EBITDA) of the Magazines division improved across the board from CHF 3.7 million to CHF 9.4 million. The development of the Schweizer Familie in particular was again very satisfactory. The operating income (EBIT) increased substantially to CHF 9.2 million (previous year CHF 3.6 million). The EBIT margin is now at 19.0 per cent (previous year 7.4 per cent).

Electronic Media
The sales (operating revenues) of the Electronic Media division increased by 25.7 per cent to reach CHF 52.8 million. The growth results exclusively from the online media. Apart from the online platforms search.ch, jobup.ch and swissfriends.ch, which are included for the first time, 20 Minuten Online and Newsnetz also contributed to the growth. The real estate platform Homegate continued to develop positively. The radio and TV activities did not meet the expectations and made no contribution to the result. The operating income before depreciation and amortisation (EBITDA) of the Electronic Media division improved by CHF 4.4 million to CHF 3.0 million (previous year CHF -1.4 million). The operating income (EBIT) increased to CHF 0.4 million (previous year CHF -3.1 million). The EBIT margin is now 0.7 per cent (previous year -7.3 per cent).

Services
In the first six months of the year, the sales (operating revenues) of the Services division amounted to CHF 99.4 million, representing a decrease of 18.4 per cent in comparison to the previous year’s figure of CHF 119.3 million. The sales of the printing facility DZO Oetwil, which prints the Zurich regional newspapers, are included in the Services division for the first time. The again lower volumes in newspaper printing led, however, to significantly reduced sales in both the printing facilities and the pre-printing services. The operating income before depreciation and amortisation (EBITDA) decreased in consequence by 10.8 per cent to CHF 23.1 million (previous year CHF 25.9 million). On the other hand, the margin increased modestly from 21.7 to 23.2 per cent. The operating income (EBIT) decreased by 12.7 per cent to CHF 10.7 million (previous year CHF 12.3 million), which led to an increase in the EBIT margin by 0.5 per cent to 10.8 per cent (previous year 10.3 per cent).

Presse Publications SR S.A. (PPSR), which encompasses the significant Swiss media activities of Edipresse, fulfilled the high expectations in the first half year 2010. With sales of CHF 176.7 million, PPSR achieved an operating income after depreciation and amortisation (EBIT) of CHF 24.8 million. The EBIT margin was then at 14.0 per cent. The jointly operated commuter newspaper 20 minutes and the also already merged online market places developed particularly satisfactorily. Since Tamedia holds, until the beginning of 2011, only a minority interest of 49.9 per cent in PPSR, its sales are not included in the half year figures of Tamedia. Based on the participation of 49.9 per cent, CHF 10.8 million, or almost half of the net income of CHF 21.6 million, nevertheless flowed into the net income of Tamedia.

Apart from the merger with the Swiss media activities of Edipresse, Tamedia’s attention will be centred on the future of the Zurich regional newspapers in the coming months. Together with the partners, Ziegler Druck und Verlags AG (Der Landbote) and Zürcher Oberland Medien AG (Zürcher Oberländer), possible forms of cooperation are currently being examined. The partners have already decided to operate their advertising business jointly as from 2011. Further projects should be concluded by the end of 2010.

Lausanne and Zurich, 23 April 2010 - The companies, Edipresse and Tamedia, have legally completed their merger’s first phase. Tamedia thus becomes a 49.9% shareholder of the company PPSR SA which owns most of Edipresse’s operations in Switzerland.

In the second phase, Tamedia will acquire an additional 0.2% of PPSR at the start of 2011, then the remaining 49.9% in early 2013. Part of the price of the final tranche will be paid in shares, thereby making Edipresse one of Tamedia’s major shareholders. As of 2013 a Swiss media company with strong regional roots will emerge out of this merger.

The Board of Directors of the company PPSR will be comprised of five people; three appointed by Edipresse and two by Tamedia: Pierre Lamunière, Chairman, Pietro Supino, Vice-Chairman, Tibère Adler, Managing Director, Martin Kall and Michel Preiswerk. Pierre Lamunière, Chairman of Edipresse’s Board of Directors, was elected to Tamedia’s Board of Directors during the general assembly of May 12, 2009.

Thurgauer Zeitung is being transferred from Tame¬dia to FPH Freie Presse Holding AG, a subsidiary of NZZ-Mediengruppe. Thurgauer Zeitung will extend St. Galler Tagblatt’s newspaper group. For the canton of Thurgau, this cooperation will result in a strong voice on an economically sustainable basis. At the same time, Tamedia takes over the stakes in the Zurich regional papers Zürcher Unterländer, Zürichsee Zeitung und Zürcher Oberländer from FPH Freie Presse Holding. The Gut Family of publishers is selling its majority stake in Zürichsee Zeitung to Tamedia. Tamedia wants to continue Zürcher Landzeitungen as independent regional newspapers.

St. Gallen, Stäfa and Zurich, 15 April 2010 - The media houses NZZ-Mediengruppe and Tamedia have agreed to swap their regional newspaper stakes in the cantons of Thurgau and Zurich. The Gut family of publishers is selling its majority stake in Zürichsee Zeitung to Tame¬dia. These steps should help create favourable economic perspectives for the daily newspapers involved.

Thurgauer Zeitung extends Tagblatt newspaper group
Tamedia relinquishes its 100 percent stake in Huber &Co. AG, publishers of Thurgauer Zeitung, to FPH Freie Presse Holding AG, a subsidiary of the NZZ-Mediengruppe. Thur¬gauer Zeitung will be incorporated into Tagblatt Medien at the beginning of 2011. This way Thurgauer Zei¬tung will extend eastern Switzerland’s leading group of newspapers with the following titles: St. Galler Tagblatt, Tagblatt für den Kanton Thur¬gau, Ap¬pen¬zel¬ler Zei¬tung, Toggen¬bur¬ger Tagblatt, Wiler Zeitung and Der Rheintaler. The combination of Thur¬gauer Zeitung and the Thurgau issue of Tagblatt will thus create a journalistically strong and economically viable voice for the entire Thurgau region. Printing and pro¬duction operations of Thurgauer Zeitung will be transferred to the newspaper printing facility of Tagblatt Medien in St. Gallen.

The Nordostschweiz newspaper network, established in 2006, which in addition to Thur¬gauer Zeitung includes the Winter¬thur based Landbote and Schaffhauser Nachrichten, will be continued until the end of 2010. Subsequently, the publishing and sales functions for Thurgauer Zeitung and Landbote combined under the umbrella of Huber &Co. AG will be transferred back to the respective newspaper. In the coming weeks Tame¬dia will begin discussions with Ziegler Druck and Verlags AG, publisher of Winterthur based Landbote, on their future cooperation. From the perspective of Tame¬dia, focus will be on a partnership between the Landbote newspaper and Zürcher Landzei¬tungen.

Gut family of publishers and FPH to sell Landzeitungen to Tamedia
The Gut family of publishers as majority shareholders of Zürichsee Zeitung and NZZ subsidiary FPH Freie Presse Holding AG relinquish their stakes in Zürcher Landzeitungen to Tamedia. Tamedia takes over 60 percent of Zürichsee Presse AG, publisher of Zürichsee Zeitungen, from the Gut family respectively their holding company, Zürichsee Medien AG. The Gut family of publishers thus ensures its succession planning within Zürichsee Medien AG and the future of Zürichsee Zeitung. Theodor Gut remains publisher of Zürichsee Zeitung. The remaining 40 percent of shares will be taken over by Tamedia from the NZZ subsidiary FPH Freie Presse Holding AG.

FPH Freie Presse Holding AG also relinquishes its 100% stake in Zürcher Unterland Medien AG and its 38 percent stake in Zürcher Oberland Medien AG to Tamedia. As a result of its stakes in the three media houses, Tamedia now holds an indirect stake in the DZO Druck newspaper printing facility in Oetwil am See. Along with regional newspapers Zürcher Unterländer and Zürichsee Zeitung several gazettes will also be transferred to Tamedia.

Opportunity to strengthen Zurich’s newspaper market
Tamedia wants to continue Zürcher Landzeitungen as independent regional newspapers. However, this requires significant improvements in earnings through cost savings and revenue increases. Bundling the Zürcher Unterländer, Zürich¬see Zeitung and Tages-Anzeiger newspapers under one corporate roof provides a good opportunity to achieve this. Over the coming weeks, talks with our partners Publicitas, Ziegler Druck and Verlags AG and Zürcher Oberländer will be held to discuss perspectives for purchasing, printing, logistics, editorial staff, publishing, marketing and preliminary services.

Newspapers with heavy decrease in turnover and result -
Satisfactory result thanks to lower costs and strong portfolio

The Swiss media company Tamedia shows a significant decrease in turnover in 2009 as a consequence of the economic crisis. The decrease is almost entirely a result of the lower advertising income. Thanks to the positive development of the magazines and the online media, and various cost reduction measures, Tamedia achieved a satisfactory result in the past year.

Zurich, 15 April 2010 - The business year 2009 was under the influence of a declining advertising market. Tamedia’s advertising income declined by 21.7 per cent to CHF 410.8 million (previous year: CHF 524.4 million). As a consequence, the turnover (operating revenues) decreased by 14 per cent or CHF 124.1 million to CHF 766.0 million. The activities of the commuter newspaper L’essentiel, the online platforms homegate.ch, tilllate.ch and Newsnetz, plus the newly acquired classified advertisement platform search.ch, made a positive contribution to the development of the turnover.

The operating result before depreciation, amortisation, interest and taxes (EBITDA) decreased by CHF 76.4 million or 45.5 per cent to CHF 91.7 million. It is thanks to the positive development of the commuter newspaper L’essentiel, the Schweizer Familie and the online activities of homegate.ch and Newsnetz that this decrease was not more severe. The cost reduction measures of all media and in the service area showed their first positive effects towards the end of the year. In spite of this, the operating expense sank with 7.1 per cent significantly less than the turnover, leading to a decrease in the EBITDA margin from 18.9 to 12.0 per cent.

Operating income (EBIT) declined by 61.3 per cent or CHF 81.9 million and amounts to CHF 51.6 million. Depreciation and amortisation, reported at CHF 40.0 million, was CHF 5.5 million higher, i.e. 16 per cent, than in the previous year. This increase can be attributed entirely to the necessary write-down of the goodwill of tilllate.com in the amount of CHF 4.6 million. The EBIT margin dropped significantly from 15.0 to 6.7 per cent. With the exception of the electronic media, all business divisions recorded positive figures at the EBIT level.

The reported net profit for 2009 of CHF 46.7 million is 55.8 per cent or CHF 59.1 million below that of the previous year of CHF 105.7 million. The share of the earnings of associated companies declined in the reporting year by CHF 1.6 million to CHF -0.9 million. This development is due principally to the new participations in online portals, most of which are in a development phase.

The discontinued commuter newspaper, News, the sold motorcycle magazines, Moto Sport Schweiz and Moto Sport Suisse, and the early delivery activities are shown under the discontinued operations. The discontinued operations achieved a turnover of CHF 53.0 million (previous year: CHF 75.3 million). In the prior year, the figures for the discontinued operations also included the printing activities of Benteli Hallwag. At the EBITDA level, the discontinued operations showed a loss of CHF -9.0 million (previous year: CHF -16.8 million).

Regional daily newspapers with heavy losses
The turnover (operating revenues) from third parties of the Newspapers Division sank by 18.6 per cent to CHF 491.5 million. The decrease is principally due to the significant declines in turnover of the Berner Zeitung, the SonntagsZeitung, the job supplements and the Tages-Anzeiger. Tamedia’s regional daily newspapers operated in deficit. The cost reduction measures during the course of the year affected the results only towards the end of the year. The operating income before depreciation and amortisation (EBITDA) decreased therefore by 84.5 per cent to CHF 14.5 million. The EBITDA margin is at 2.8 per cent far below the level of the prior year (14.7 per cent).

Magazines as an important contributor to the result
The Magazine Division closes the past year with the sales to third parties (operating revenues) 6.8 per cent lower than the previous year at CHF 93.9 million. The decrease results from the advertising market developments due to the economy. Thanks to the stable revenues of Annabelle and Fachmedien Agrar and the positive development of Schweizer Familie, the operating income before depreciation (EBITDA) increased by 3.2 per cent to CHF 11.8 million in spite of the investments in 20 Minuten Friday. The EBITDA margin increased from 11.2 per cent in the prior year to 12.5 per cent. The Magazine Division thus strengthened the position it achieved in 2007 as an important contributor to the result of the Group.

Electronic media grow thanks to online portals
The turnover (operating revenues) from third parties of the Electronic Media Division increased by 8.7 per cent to CHF 91.2 million. Although the turnover from the radio and TV activities declined, the online turnover increased strongly, in particular through the growth of 20minuten.ch, homegate.ch and Newsnetz, and the acquisition of search.ch. The operating income before depreciation and amortisation (EBITDA) improved by 60.6 per cent to CHF 7.1 million. As a result, the EBITDA margin at 7.7 per cent lies significantly above the level of the prior year (5.2 per cent).

Service areas again with increased profitability
The turnover (operating revenues) from third parties of the Services Division decreased by 11.8 per cent to CHF 89.4 million in the past year. The lower turnovers reflect principally the decreases in volumes due to the economy and the discontinuation of individual titles. The operating income before depreciation and amortisation of CHF 58.2 million is 1.0 per cent below that of the prior year of CHF 58.7 million. With an EBITDA margin of 25.9 per cent, the Services Division again shows a high profitability (previous year: 20.6 per cent).

Events after the balance sheet date: Merger with Edipresse Schweiz
Edipresse and Tamedia are planning to merge their Swiss business. In a first step, Tamedia will take over, in 2010, 49.9 per cent of the share capital of Presse Publications SR S.A. (PPSR), which encompasses the most significant Swiss media activities of Edipresse. In a second step, Tamedia will increase its participation early in 2011 by an additional 0.2 per cent of the share capital and finally, as a 1 January 2013, it will take over the remaining 49.9 per cent. The purchase price for the first two investment steps is CHF 226 million. Taking into account the net current assets and the net debt of PPSR, the effective purchase price to be paid for the first two investment steps is CHF 208 million. The price for the third investment step will depend on the future business development of Edipresse Switzerland.

Further, Tamedia has acquired a 20 per cent participation in Olmero AG as of 23 February 2010. From 2013, Tamedia has the possibility of increasing its participation to more than 51 per cent.

As of 5 March 2010, Tamedia made, as a first step, a 15 per cent investment in Car4you Schweiz AG, the operator of the online vehicle portal car4you.ch launched in 1997. The full takeover is planned in a second step by 2013 at the latest. The development of car4you.ch is to be pushed ahead jointly with the existing management, and the cooperation with the media of Tamedia is to be strengthened.

Profit participation of employees totals CHF 1.2 million
Since the result margin exceeds 4 per cent, the employees of the Tamedia AG and its fully consolidated subsidiary companies will receive 5.75 per cent of the amount by which this margin is exceeded as profit participation. A total amount of CHF 1.2 million will be available for distribution. The profit participation at an employement rate of 100 percent during 12 months would be 616 francs.

Outlook: A further decline in investments in advertising expected
Tamedia expects that the modest economic recovery in the current year will not yet result in a significant growth in advertising. The unemployment rate is expected to increase further in spite of a modest economic growth. On this basis, Tamedia anticipates declining advertising turnover in the media categories newspapers and magazines. A real turnaround in the trend on the advertising market continues to be expected by the end of the year or in the following year.

Resignation of Dr. Robert Karrer from Administrative Board
Dr. Robert Karrer will retire from the Tamedia Administrative Board during the General Assembly on 11 May 2010 due to his age. Robert Karrer had been voted into the Tamedia AG Administrative Board in 1992. Following Tamedia’s initial public offer, he developed the Adminstrative Boards’s Revision Council and acted as its president for nine years. The Tamedia Adminsitrative Board thanks him for his longstanding commitment to the company and wishes him the very best for his future.

Media Orientation and Information for Analysts
Note: The Balance Media Conference planned for 11 am at Tamedia, Werdstrasse 21, Zürich will be postponed due to a recent change. The following new events will take place:

11 to 12 pm: Joint media conference NZZ Media Group, Tamedia and Zürichsee Media on the regional newspaper market in Zunfthaus zur Schneidern, Stüssihofstatt 3 in 8001 Zürich.

Followed by (from ca. 12 pm to 1pm): Balance Media Conference on 2009 Financial Report by Tamedia in Zunfthaus zur Schneidern, Stüssihofstatt 3 in 8001 Zürich.

3 to 4 pm: Analyst conference at Tamedia in Presseclub Medienhaus Werd, Werdstrasse 21, 8004 Zürich

5.30 to 6.30 pm:  Conference call for analysts and investors

Zurich, 2 March 2010 - The Board of Directors of Tamedia has named Martin Spieler new Editor-in-Chief of SonntagsZeitung. Currently Editor-in-Chief of Handelszeitung and TV moderator, Martin Spieler will succeed Andreas Durisch in the summer of 2010. Together with the editorial staff, he will continue to pursue the effective style of journalism of SonntagsZeitung.

Martin Spieler has been Editor-in-Chief of Handelszeitung since 2004. Additionally, since the fall of 2007 he has also been Head of Journalism -  Business Magazines of Axel Springer Switzerland. In this position, the editors-in-chief of a number of magazines are reporting to him. Spieler (45) also appears on various business programs on radio and television as an expert commentator and moderator and serves as Vice President of the Conference of Swiss Editors-in-Chief. He also lectures at the Swiss School of Journalism MAZ, Zurich University of Applied Sciences, and other colleges. Martin Spieler has worked for SonntagsZeitung before (from 2001 to 2004) as a financial journalist and columnist. He also wrote for Tages-Anzeiger. From 1999 to 2001 he was Editor-in-Chief of the television stock market programs «Money» and «MoneyTalk» on Tele 24 and Chief Operating Officer of Belcom AG.

Andreas Durisch will leave SonntagsZeitung in mid-2010 to accept new challenges as Senior Partner of Dynamics Group, a service provider for strategy development, communication management, and research.

The Board of Directors and the Management Board of Tamedia wish to thank Andreas Durisch for his many years of committed and successful service and wish Martin Spieler much success in his future endeavours.

Zurich, 8 December 2009 - Editor-in-chief Andreas Durisch will leave SonntagsZeitung in mid-2010 to accept a new challenge as Senior Partner of Dynamics Group, a service provider for strategy development, communications management and research.

Andreas Durisch was named editor-in-chief of SonntagsZeitung in 1997, following four years as editor-in-chief of Schweizer Familie. Between November 2005 and June 2007 he also headed the news magazine Facts as editor-in-chief. During his twelve years at Sonntags¬Zeitung, Andreas Durisch was instrumental in shaping and developing the newspaper.

The Board of Directors and the Management Board of Tamedia would like to thank Andreas Durisch for his commitment and many years of successful service and wish him the very best for his future endeavours. Information regarding a successor will be announced at a later date.

Zurich, 7 December 2009 - Arthur Liener, ombudsman of Tamedia since 1999, has decided to hand over his job in the spring of 2010. The Board of Directors of Tamedia had first chosen the physicist and former Swiss Army chief of staff for the newly created function in 1998. The independent ombuds office is mandated to deal with complaints related to editorial content.
Longtime Tages-Anzeiger editor Ignaz Staub will be the new ombudsman. The 60-year old began his career in journalism as a sports reporter for Swiss public radio and television, before joining Tages-Anzeiger in 1987 after positions at Weltwoche and Schweizer Illustrierte. In his more than 20-years of work for Tages-Anzeiger the accomplished writer has headed the foreign affairs desk and served as correspondent reporting from the Middle East and the United States.

The Board of Directors and the Management Board of Tamedia thank Arthur Liener for many years of dedicated and successful work and wish Ignaz Staub all the best in his new job.

Zurich, 4 December 2009 - The commuter newspaper News will be closed down as of today, Friday. Despite the continuous development of its concepts and its success among readers, News was not able to accomplish its objectives in Switzerland’s saturated commuter newspaper market. The Tages-Anzeiger media network shall therefore concentrate on the further development of the Tages-Anzeiger main paper and of the successful tagesanzeiger.ch news portal as part of Newsnetz.
Since the withdrawal of Basler Zeitung and Berner Zeitung, the media corporation Tamedia has examined a number of strategies to rescue News. The main focus was on an even closer cooperation with Tages-Anzeiger and Newsnetz, which would have included an extensive advertising combination. Customer surveys have however revealed that the resulting impact on Tages-Anzeiger advertising rates would not be sustainable.
The Board of Directors and the Management Board of Tamedia have therefore decided to close down the commuter newspaper News. As a result, the editorial staff counting some 20 FTE will be given notice, this affecting some 27 employees. Within the bounds of possibility the employees will be reassigned to other media within Tamedia. For all those concerned the social plan negotiated by staff representatives and unions for Tages-Anzeiger and the printing facility will apply. The measures are subject to employee participation rights.

News was launched in December 2007 with four regional editions: News Basler Zeitung, News Ber¬ner Zeitung, News Mittelland and News Tages-Anzeiger. After the News Mittelland edition was closed down in December 2008, the partners Basler Zeitung and Berner Zeitung decided in August 2009 not to maintain the Basel and Berne editions. News Tages-Anzeiger has since appeared with a circulation of 100,000 copies in the canton of Zürich and at major stations within the commuter railway network in neighbouring cantons.

Zurich, 28 October 2009 - The Tamedia Board of Directors plans to nominate Martin Bachem for election into the board at the next annual shareholders’ meeting that is scheduled to be held on 11 May 2010. The 51-year-old specialist in economics is a member of the founding family of Ziegler Druck- und Verlags-AG of Winterthur, the company that publishes the regional newspaper «Der Landbote», and is closely associated with the printing and publishing business. Since 1985, Martin Bachem, who has a doctorate in economics, is a member of the company’s board of directors and in 1995 he assumed the role as president of the company. During the course of his career, for many years, Martin Bachem held several executive positions at UBS, most recently as the Chief Operating Officer Group Human Resources. Since 2007, he has been a freelance consultant in the financial sector and has been actively involved in journalism.

By electing Martin Bachem, the media company Tamedia will make a step towards adding younger members to its board of directors as a part of its forward looking plan geared towards succession management.

Bern and Glattbrugg, 6th October 2009 - MotorMedia GmbH with its headquarters in
Glattbrugg in the Swiss canton of Zurich, a subsidiary of Druckerei Flawil AG, will take over
the motorcycle magazines Moto Sport Schweiz and Moto Sport Suisse from the special
interest publisher Fachmedien Mobil. In September 2009, Fachmedien Mobil had announced
that they would concentrate on the two magazines Automobil Revue and Revue Automobile,
and thus would be looking for a new publisher for the two motorcycle magazines.
Fachverlag MotorMedia publishes TIR transNews, an independent special interest magazine
for the commercial vehicle market in Switzerland as well as other specialist publications in the
road traffic field. Moto Sport Schweiz and Moto Sport Suisse will supplement the portfolio of
MotorMedia GmbH, and along with national expansion constitutes an important field of the
growth strategy of the company.
By taking over the two motorcycle magazine on 1st November 2009, 7.1 full-time posts, which
are split amongst eight employees, can be secured. Secrecy has been agreed upon about
details of the transition of the two titles.

Swiss Post, the media houses NZZ Group and Tamedia have welcomed the decision by the Federal Competition Commission to agree, in principle, to the transfer of the early delivery service. However, the three companies regret the fact that NZZ Group and Tamedia will not be permitted to have stakes in the new company as originally planned. Nevertheless, Swiss Post and the two media houses have agreed in principle to go ahead with the transfer of the early delivery service and Tamedia's acquisition of a stake in the directory portal search.ch.

Over the next few days, Swiss Post, NZZ Group and Tamedia will be analysing the Competition Commission's decision and assessing what changes need to be made to the concluded contracts in order to comply with the requirements of the Commission and press ahead with the development of the new delivery organization. The new company will be a strong early delivery organization for German-speaking Switzerland under the management of Swiss Post. Swiss Post is thus expanding its range of one-stop solutions to include attractive early delivery services.

At the same time as this early delivery consolidation, Tamedia is acquiring a 75% share in the leading directory and service portal search.ch from Swiss Post. Tamedia intends to further develop the portal in the directory field in particular. The portal currently has 2.85 million unique clients (Wemf NET Audit, August 2009). Swiss Post will retains a 25% share in search.ch.

Lausanne and Zurich, 18 September 2009 - Following the decision of the competition commission to approve the merger of the Swiss activities of Edipresse (included in PPSR S.A.) with Tamedia, the two media companies will merge their free daily newspapers in French-speaking Switzerland, as well as their online classifieds.

Together, Edipresse and Tamedia intend to further develop their online activities. The company JobUp Sàrl as well as the holdings in the real estate platform homegate.ch and the dating platform swissfriends.ch will be brought together to form a common classifieds organisation starting as of 1 January 2010. Through the consolidation of the online job platforms alpha.ch, jobwinner.ch (Tamedia) and jobup.ch (Edipresse) a strong national job network will be formed. Moreover Jobup.ch will be gradually expanded to a national brand. Urs Hügli, to date CEO of Homegate, will assume overall management of the new classifieds organisation (in which Tamedia and PPSR will each hold a 50 percent share), whereas Christoph Tonini, Head of the Switzerland Media division of Tamedia, will be Chairman of the Board.

Edipresse and Tamedia will merge their free daily newspapers in French-speaking Switzerland in the next few weeks. The final edition of Le Matin Bleu in its current form will appear on Friday, 25 September 2009. Thereafter the reunited editorial teams will develop a new concept which will combine the best of 20 minutes and Le Matin Bleu. The first edition will be published during the month of November under the name 20 minutes. The continuation of the name 20 minutes secures the advertising combination with 20 Minuten in German-speaking Switzerland. Besides, the design of 20 Minuten in German- speaking Switzerland will be revised and complemented with graphic elements of Le Matin Bleu. At the beginning of 2010, 20 minutes will have, as Le Matin Bleu today, two regional editions (Geneva and Vaud-Regions). Print run will be around 210,000 copies and printing will be carried out in the Centre d’Impression Edipresse in Bussigny.

Chairman of the Board of 20 Minutes Romandie S.A., of which Tamedia and PPSR will each hold a 50 percent share, is Serge Reymond, CEO of Edipresse Switzerland. Managing Director will be Joseph Crisci, to date Managing Director of 20 minutes. Tristan Cerf, until now Editor-in-Chief of Le Matin Bleu, will become Editor-in-Chief of the new daily. Philippe Favre, until now Editor-in-Chief of 20 minutes, will take over the management of the online edition. Due to natural labour turnovers, it will be possible to reduce the number of layoffs to 10 employees (9.32 full-time equivalent). Accompanying measures are planned for affected employees.

Lausanne and Zurich, 17 September 2009 - The Federal Competition Commission (COMCO) approved the merger between Edipresse’s Swiss activities and Tamedia without conditions. This decision proves the highly competitive nature of the Swiss media landscape. In the past few months, Edipresse and Tamedia submitted a wide variety of market information and internal performance figures to the Competition Commission for review.

Following the COMCO approval, Tamedia, in a first step, will acquire 49.9% of the share capital of Presse Publications SR S.A. (PPSR) at the beginning of 2010. PPSR comprises the main media activities of Edipresse in Switzerland. In a second step, Tamedia will increase its holdings by another 0.2% in early 2011 and finally take over the remaining 49.9% at the beginning of 2013. In return Edipresse will receive Tamedia’s capital shares, thus becoming a major shareholder of the company. This merger will create a big Swiss national media company able to grant its media a steady development and to stand up to an increasing international competition.

Economic crisis results in a 15.9 percent decline in sales. The result is slightly positive at CHF 0.8 million. Discontinuation of the Solothurner Tagblatt as of end of September.

Zurich, 3 September 2009 - The results of the severe recession and also a collapse in advertising spending are significantly impacting Tamedia’s net income in the first half of the year 2009. Sales (operating revenues) dropped by 15.9 per cent to CHF
389.0 million (previous year CHF 462.8 million). Operating expenses were reduced during the same period by merely 1.7 per cent to CHF 368.4 million. As a consequence, operating income before interest, taxes, depreciation and amortisation (EBIDTA) showed a downturn by 76.6 per cent to CHF 20.6 million (previous year CHF 88.2 million). Thus, the EBITDA margin is now at 5.3 per cent (previous year: 19.1 per cent). At CHF 3.5 million (previous year CHF 71.8 million) Tamedia’s operating income after depreciation and amortisation (EBIT) reached a barely positive number. The EBIT margin is 0.9 per cent (previous year 15.5 per cent).

Results from continued operations declined in the first half year 2009 to a disappointing CHF 1.4 million (previous year: CHF 65.4 million). Not included in this figure are the early morning delivery activities, which are to be assigned to the Swiss Postal Service. Overall earnings, including discontinued operations, are now at CHF 0.8 million (previous year: CHF 59.4 million).

The decline in advertising investments, which began its downward spiral in June 2008, intensified. According to the advertising statistics published by Wemf, job ad placements in daily newspapers dropped dramatically by 47.4 per cent. As in past economic cycles, this collapse hit Alpha and Stellen-Anzeiger, the leading newspaper supplements featuring classified job ads, hard. Total advertising sales for Swiss daily newspapers declined by 24.3 per cent.

In order to meet the economic and structural developments head on, Tamedia took measures to reduce costs totalling CHF 47.8 million in the first half year. The company is assuming its social responsibility as employer with two social plans, which have been negotiated with the responsible personnel committees. Consequently, the cost-cutting measures, which will take complete effect in 2010, burden the half-year results with one-time restructuring costs in the amount of CHF 7.9 million. At the same time, Tamedia continued its commitment to expand the Online sector with additional participation interest and investments in the Newsnetz of Basler Zeitung, Berner Zeitung, Der Bund, Tages-Anzeiger and Thurgauer Zeitung as well as in 20 Minuten Online. Due to the future outlook in the economy, Tamedia expects to see the decline in advertising sales to continue until the end of 2010. However, with the announced measures to reduce costs as well as by taking advantage of synergy effects, a noticeable improvement in net income is expected to be seen starting in 2010.

Newspapers
Sales (operating revenues) in the Newspapers division decreased by 20.3 per cent to CHF 268.7 million. Almost all products in the division showed a decrease in revenue. For the first time since its launch, revenue and operating income for the commuter paper 20 Minuten was significantly lower than in the previous year. The decline was especially evident for SonntagsZeitung, for Finanz und Wirtschaft, which was strongly affected by the financial crisis, for Berner Zeitung and also for Tages-Anzeiger and its job ad supplements. The cost reduction measures already in place as a part of a new concept for the two titles Bund and Tages-Anzeiger will not show any positive effects on operating income until the second half of the year 2009. Operating income before depreciation and amortisation (EBITDA) in the Newspapers division declined from CHF 48.1 million in the previous year to CHF -9.3 million. Operating income (EBIT) dropped to CHF -11.1 million (previous year CHF 46.7 million). The EBIT margin plummeted by 18.0 percentage points to -4.1 per cent.

Magazines
The pervasive crisis in the automotive industry as well as structural shifts resulted in a strong decline in sales and operating income for Fachmedien Mobil. Operating income in the Magazines division was furthermore strained by the investments directly affecting the income statement made in the expansion of the new people magazine 20 Minuten Friday, launched at the end of 2008, which by far exceeded the expectations both as relates to readership as well as the advertising market. Taking these factors into consideration, the Magazines division was able to successfully stand out in the midst of an extremely negative market environment. As compared to the previous year (CHF 54.8 million), sales declined by 9.1 per cent to CHF 49.8 million. EBITDA in the Magazines division declined by 54.5 per cent to CHF 4.0 million (previous year CHF 8.7 million). The results in the EBIT category declined by the same token to CHF 3.8 million (previous year CHF 8.6 million). At 7.7 percentage points, the EBIT margin is 7.9 percentage points below the value in the previous year (15.6 per cent), however in the current market environment, this margin can be considered satisfactory.

Electronic Media
Sales in the Electronic Media division increased by 8.2 per cent to CHF 42.0 million. The Online news platform Newsnetz, which was launched a year ago in a joint effort with Basler Zeitung, saw significant increases both in terms of the number of visitors as well as in advertising revenue, and, towards the end of the first half year, it reached a break-even point for the first time on a monthly basis. The development continued on a positive note for 20 Minuten Online and Homegate as well. In contrast, however, the job ad platforms alpha.ch and jobwinner. ch experienced a decrease in revenue as a result of the negative development in the economy, even though this was by far less evident as for the printed job ad supplements. With the exception of Radio 24, radio and television activities continued their disappointing trend. EBITDA in the Electronic Media division saw an improvement by CHF 0.3 million to CHF -1.4 million (previous year CHF -1.7 million). Operating income (EBIT) remained unchanged at CHF -3.1 million. The EBIT margin is now at -7.3 per cent (previous year: -7.9 per cent).

Services
The lower volumes in newspaper printing led to a drop in sales both in the printing facilities as well as in preprinting services. At CHF 118.6 million, sales in the Services division was 20.2 per cent below the value for the previous year of CHF 148.6 million during the first six months of the year. In consequence, EBITDA decreased by 17.3 per cent to CHF 27.4 million (previous year CHF 33.1 million). The margin rose slightly from 22.3 to 23.1 per cent. EBIT dropped by 29.7 per cent to CHF 13.8 million (previous year CHF 19.6 million), which led to a decline in the EBIT margin by 1.6 percentage points to 11.6 per cent (previous year 13.2 per cent). Not included in these results are the early morning delivery activities, which are itemised as discontinued operations.

Discontinuation of the Solothurner Tagblatt
Solothurner Tagblatt, a regional issue of Berner Zeitung, is to be suspended in the second half of September 2009. Espace Media Groupe has launched Solothurner Tagblatt in 2001 as an addition to the already existing regional issues. However, the title’s readership development lagged significantly behind original expectations. Over the last few years, Solothurner Tagblatt has consistently been running up losses in the millions. The title’s suspension, which is subject to a legally required participation process, will result in the reduction of 13.8 full-time jobs which will affect a total of 17 employees. For the employees concerned, a social compensation plan has been negotiated. The suspension will strain the results of the second half of the year 2009 with one-time restructuring costs in an amount that has not yet been determined and will not positively affect net income until after 2010.

Basel, Berne and Zurich, 24 August 2009 - Starting Monday, 31 August 2009, the commuter newspaper News will concentrate on the Tages-Anzeiger edition. Therewith, News will be integrated further in the Tages-Anzeiger media network, which, besides its subscription newspaper with regional editions, comprises the news platform tagesanzeiger.ch. With its compact news and focus on a young and urban readership, the commuter newspaper intends to win additional readers for the media group and increase its coverage in the large agglomeration of Zurich.

The editions News Basler Zeitung and News Berner Zeitung will be discontinued and appear for the last time on Friday, 28 August 2009. In the framework of cost examinations, Basler Zeitung Media newly assessed its participation in the NP News Print AG and decided to hand over its share to Tamedia. Espace Media will also hand over its participation in the NP News Print AG to Tamedia. Through continued publication of the daily newspaper Der Bund, Espace Media is already present in Berne with two daily newspapers. Together, the Berner Zeitung and Der Bund share an extensive coverage of over 45 per cent in the Berne region.

With a circulation of 100,000 copies, News Tages-Anzeiger will be distributed in the canton of Zurich, as well as in major stations of the S-Bahn network in the neighbouring cantons. In the medium term, News Tages-Anzeiger targets a readership of 150'000 to 200'000 people. According to readership research of the WEMF AG for advertising-media research, News achieved readership figures of 276,000 with all three editions during the first months after the launch (Mach Basic 2009-1).

No reduction in editorial staff results from this concentration on News Tages-Anzeiger. Stefan Regez, who, with his News team advanced the step-by-step build up of News during the past months, remains Editor-in-Chief. The editorial team of the commuter newspaper News will move into a joint newsroom with the editorial team of Newsnetz at the beginning of September 2009, as already announced. Cooperation between the editorial teams, which however remain independent, will then gradually be expanded.

Zurich, 29 June 2009- Andreas Schaffner is a new member to the Tamedia Management Board. The 46-year-old will assume management of the services division of the Tamedia publishing house no later than the beginning of 2010. In this position he is responsible for the two printing centers in Berne and Zurich, as well as the areas preliminary services, publishing logistics and reader-market services. Andreas Schaffner follows as successor to Urs Schweizer, who is leaving the company at the end of 2009.

After completing a bookbinder apprenticeship, Andreas Schaffner acquired professional experience in the graphical industry prior to his engineering course of studies at the Ecole Suisse d'Ingénieur des Industries Graphiques in Lausanne. On returning from France he was engaged as project head for the Ringier AG in 1995, and then headed various sectors in the field of services and printing before becoming company head of the Ringier Print Adlingenswil in 2005. Andreas Schaffner has been a member of the Ringier Switzerland Management Board since 2007, having completed a work-accompanying Executive MBA course of studies. As head of the services division, amongst other things, he is responsible for the areas publishing logistics, deliveries, call center and facility management.

Berne and Zurich, 14 May 2009 - Espace Media is going to continue publication of the daily newspaper Der Bund in collaboration with Tages-Anzeiger. Given the sharp decline of advertising expenditures in the first three months, and with a view to the structural shift of advertising investments, Espace Media plans to strengthen sales and various cost-cutting measures. A total of 22 positions are being eliminated. The Boards of Directors of Tamedia and Espace Media have made this decision. At the same time, Tages-Anzeiger is reorganising its editorial staff. The Newsnetz, News and Tages-Anzeiger will also collaborate more closely in the future. These reforms will result in the reduction of 57 jobs. Overall, the editorial staff of the Tages-Anzeiger media network will comprise 235 full-time positions in the future.

Espace Media is going to continue publication of the Berne daily newspaper Der Bund. Starting in autumn 2009, the daily and tradition-rich newspaper will collaborate closely with Tages-Anzeiger. The objective of the collaboration between Der Bund and Tages-Anzeiger is to provide the demanding readership of both newspapers a combined main section with well developed reporting on national and international politics, culture, sports and economy. The Berne model with two editorially independent daily newspapers in one publishing company will thus be continued. 

Collaboration intended to strengthen Der Bund and Tages-Anzeiger
The collaboration between Der Bund and Tages-Anzeiger is to strengthen both publications. Der Bund will be responsible for the joint editorial staff in the Federal Parliament in Berne and will provide Tages-Anzeiger with further selected topics concerning economy, culture and special features. In return, Der Bund will receive articles on national topics from Tages-Anzeiger. Planned are four newspaper sections with a new layout. The first section will contain national and international news, and the second section topics on the economy and business together with a sports section newly created in collaboration with Tages-Anzeiger. The city and the canton of Berne are the focus of the third section. The previous weekend supplement «Der kleine Bund» will be published daily as the fourth newspaper section and, among other topics, will be dedicated to culture, society and science. Artur K. Vogel (56) will remain editor-in-chief of Der Bund; he has been in charge of the daily newspaper since 2007 and was significantly involved in the elaboration of the new concept.

Espace Media is taking a chance with the strategy of continuing publication of the Berne newspaper model, which has to pay off in the coming years. The collaboration with Tages-Anzeiger is designed to reduce losses incurred to date and achieve a balanced result in the mid-term. In addition, the subscription fee will also be increased in the near future in order to further improve the economic perspectives of Der Bund. At the same time, Espace Media will start negotiations concerning future support of Der Bund with those institutions and companies, whose representatives were involved in the «Rettet den Bund» committee for continuation of the daily newspaper.

In the future the editorial staff of Der Bund will comprise 35 full-time positions as opposed to the previous 54, with a total of 19 positions reduced. Some of these positions will be eliminated via regular and early retirements. The permanent and freelance employees affected by the lay-offs as well as other areas of Espace Media are to be supported with an appropriate social compensation plan. Negotiations will be started with the employees’ committee of Der Bund, representatives of employees in other areas of Espace Media and the unions over the next few days and shall be concluded rapidly.

Differentiation between Berner Zeitung and Der Bund
To take full advantage of the chances of journalistic competition in Berne, the Berner Zeitung will be positioned more consistently as the leading regional newspaper. A new community of editorial staff will further improve readership contact. Increased regionalisation of the news platform bernerzeitung.ch within the Newsnetz is also planned. The collaboration with the Thuner Tagblatt and Berner Oberländer will be continued, and the Berner Zeitung will continue to be published with different regional editions.

Measures for increasing sales and cutting costs at Espace Media
Given the sharp decline of advertising expenditures in the first three months, Espace Media expects a clearly negative result for the current year. With the increase of the sales department by an addition of 7 full-time positions, more advantage is to be taken of the potential in the advertising market. The return to a category-related sales organisation should also further increase the market presence of Espace Media at the same time. The management structure will be made leaner, and a traditional publishing organisation will be introduced.

With a view to the structural shift of advertising investments, which will probably accelerate due to the difficult economic situation, the company is also planning various cost-cutting measures. The large print run of the Solothurner Tagblatt is to be discontinued. The share of trial offer subscriptions as well as free copies in the overall circulation of the Berner Zeitung will be reduced step by step. Other measures include adaptation of in-house departments to the declining number of section ads as well as the partial integration of the job ads of the Berner Zeitung and Der Bund into the main newspaper. The cost-cutting measures, as well as the restructuring of the Espace Media publishing company organisation, will result in the reduction of 3 full-time positions, 2 of them in editorial staff of the Berner Zeitung BZ.

Tages-Anzeiger with new organisation of its daily editors
Tages-Anzeiger is reorganising its editorial staff and is eliminating a total of 50 full-time positions, some of which through early retirements. Fee budgets will also be adapted to fit lower advertising revenues. The lay-offs, which will affect all departments, are part of a comprehensive new concept, which also foresees savings in print and distribution thanks to the introduction of a four-section newspaper. All regional newswill be combined in one newspaper section and the regionalisation of Tages-Anzeiger therefore consequently strengthened. The look of the largest subscriber daily newspaper in Switzerland is to undergo substantial improvements in layout and reader management. With these measures, Tages-Anzeiger is reacting to structural shifts of advertising expenditures as well as the sharp decline of advertising revenue over the past months. Thanks to the collaboration with Der Bund, which in turn receives articles on national topics from Tages-Anzeiger, the scope of the lay-offs can be slightly reduced. 

The new concept, with four newspaper sections, will result in the elimination of additional 7 full-time positions in newspaper printing, which will be mainly achieved through early retirements. The permanent and freelance employees of Tages-Anzeiger, and the print centre affected by the lay-offs, are to be supported with an appropriate social compensation plan. Talks with the Tages-Anzeiger employees’ committee are already underway. Negotiations are to be continued with the inclusion of the print centre plant committee and unions over the next few days and shall be swiftly concluded.

Taking full advantage of the possibilities of a comprehensive media association
Together with the news platform tagesanzeiger.ch and the commuter newspaper News, Tages-Anzeiger wants to take more targeted advantage of the possibilities of a comprehensive media network in the future. As a result, the editorial staff of Newsnetz and the commuter newspaper News will move into a shared newsroom in August 2009, which will be linked directly with the editorial offices of Tages-Anzeiger. The to date independent editorial staff of Newsnetz and News will expand their collaboration step by step over the course of the second half-year 2009. Plans are for the inclusion of contents from the news network in the commuter newspaper News, as well as close cooperation of the two editorial staffs with Tages-Anzeiger in the area of the basic provision of news reports. The collaboration will result step by step in a slight reduction in editorial staff numbers by the end of 2009, which shall be achieved without lay-offs.

Joint editing of news reports will furthermore enable all three editorial staffs to concentrate on their core competencies. Overall, the editorial staffs of the media network Tages-Anzeiger with the daily newspaper Tages-Anzeiger, the Newsnetz and the commuter newspaper News will comprise 235 full-time positions in the future. With 177 full-time positions, Tages-Anzeiger will continue to have the largest regional newspaper editorial staff in Switzerland.

Decisions contingent on consultation rights
All decisions are contingent on the legal consultation rights of the affected employees of Espace Media and Tamedia.

Merger with Espace Media Groupe results in growth in sales at Tamedia

The Swiss media group Tamedia once again shows an increase in sales in 2008. The growth in sales is in large part a direct result of the merger with Espace Media Groupe that was consolidated for the first time for an entire year. Net income before taxes (EBIT) showed a slight decline, primarily due to the investments made in new media projects. Net income decreased disproportionately after high one-time tax and sales incidents in the previous year.

Zurich, 8 April 2009 - During the financial year 2008, Tamedia once again increased its sales (operating income) significantly by 21 per cent to CHF 897.5 million. The increase by CHF 154.3 million is for the most part a direct result of the merger with Espace Media Groupe that was taken into consideration for the first time for an entire year. Also contributing to overall growth were the commuter papers 20 Minuten, L’essentiel and News, as well as the Online platforms Homegate and Newsnetz. The negative developments in the economy as a whole were reflected in particular in the decrease in advertising sales in the second half of the year.

Operating income before depreciation and amortisation (EBITDA) declined by CHF 6.0 million or 4 per cent to CHF 153.9 million. 20 Minuten and Homegate as well as Espace Media Groupe, considered for the first time for an entire year, had a positive effect on the EBITDA operating income. Investments in the new media projects L’essentiel, the commuter paper News and Newsnetz resulted in a disproportionate increase in operating expenses by 27 percent. A direct consequence was a decrease in the EBITDA margin from 21 to 17 percent.

Operating income (EBIT) declined by 11 per cent or CHF 14.1 million and is being reported as CHF 119.4 million for 2008. All business divisions recorded positive figures at the EBIT category. Depreciation and amortisation, reported at CHF 34.5 million, was CHF 8.1 million higher, 31 percent respectively, than it was in the previous year. This increase can be attributed entirely to Espace Media Groupe and Homegate, while depreciation and amortisation of the previous activities showed a slight decline. The EBIT margin dropped significantly from 18 to 13 percent.

Reported net profit for 2008 is at CHF 105.8 million and thus 30 percent or CHF 44.8 million below the value for the previous year reported at CHF 150.6 million. The share of earnings in associated companies declined in the reporting year by CHF 5.3 million to CHF 0.8 million. As of January 2008, no longer being itemised are not only the portion of earnings allotted to Berner Zeitung AG and Bevo AG, which as a result of the merger with Espace Media Groupe have been fully consolidated since the fourth quarter of 2007, but also the portion of earnings for Homegate.

Merger of Espace Media and Tamedia is making progress

The merger of Espace Media and Tamedia progressed quickly last year. The company was able to analyse and merge each of the service sectors. Espace Media Groupe, which is included in the consolidated statements for the first time during an entire financial year, generated sales of CHF 224.6 million in 2008 and contributed CHF 20.6 million in earnings in the EBIT category. Espace Media Groupe employees will be able to share in the overall profits for the first time ever in the history of the company in the form of a profit-sharing plan. The profit-sharing programme in place for Tamedia employees will continue unchanged.

The different printing activities of Benteli Hallwag and the Huber groupe as well as the early morning delivery activities of Bevo, Zuvo and Espace Media Groupe, which generated sales of CHF 67.8 million (previous year: CHF 92.2 million) are itemised as discontinued operations. The discontinued operations show a loss of CHF -4.5 million in the EBITDA category (previous year: CHF -11.8 million), primarily resulting from social plan expenses.

Regional newspapers showing continued market share loss

The Newspaper division increased its sales (operating income) as compared to third parties by 11 per cent to CHF 608.7 million. This increase is a direct result of the merger with Espace Media Groupe and the results of the commuter paper 20 Minuten. Operating income before depreciation and amortisation (EBITDA) declined by 26 per cent to CHF 74.4 million primarily as a result of the investments made in 20 minutes, L’essentiel and News. The EBITDA margin is at 11.6 percentage points significantly lower than its level in the previous year (18.2 per cent). The regional dailies continued to lose ground in the readership and advertising markets, thus resulting in a loss of market share. For this reason, various different projects are underway at this time to advance the development of the regional dailies in Berne and Zurich.

The Newspaper division showed an increase in sales by 12 per cent as compared to third parties to CHF 103.7 million. This increase is the result of including Fachmedien Agrar and Fachmedien Mobil of Espace Media Groupe in the annual figures for the first time during an entire financial year. The EBITDA in the magazines division declined by 18 per cent to CHF 12.7 million. The EBITDA margin is at 12.2 percentage points significantly lower than the reported figure in the previous year (16.6 per cent). The margin decrease can be attributed especially to the below-average profitability of Fachmedien Agrar and Fachmedien Mobil.

Electronic Media and Services showing strong growth

The Electronic Media division increased its sales as compared to third parties by 43 per cent to CHF 84.0 million. The growth in sales can especially be attributed to the larger investment in Homegate, the Online news platforms 20 Minuten Online and Newsnetz as well as the electronic media of Espace Media considered for the first time for a period of twelve months. The operating income before depreciation and amortisation (EBITDA) rose by 50 per cent to CHF 4.5 million. At 5.2 per cent, the EBITDA margin remains stable as compared to the previous year (4.8 per cent). The share of the Electronic Media division in the entity’s overall income and net income is expected to increase over the upcoming years.

The Services division increased its sales to third parties significantly in the year under review by 131 per cent to CHF 101.3 million. The jump in sales is primarily due to newspaper printing operations of Bücher Grafino AG considered for the first-time for an entire year. The operating income before depreciation and amortisation (EBITDA) rose by 52 per cent to CHF 62.2 million. The EBITDA margin increased from 19.9 per cent in the previous year to 21.4 per cent in the year under review.

Significant events since balance sheet date: Merger with Edipresse Switzerland

On 4 March 2009, Edipresse and Tamedia made public their plans to merge their Swiss business activities. In a three-step process, Tamedia will take over Presse Publications SR S.A. (PPSR), which encompasses the most significant Swiss media activities by Edipresse, to be completed by early 2013. The purchase price for the first two investment steps that will involve the takeover of 50.1 per cent, range at CHF 226 million. The price for the third investment step for the remaining 49.9 per cent will depend on the business development of Edipresse Switzerland. Plans for the third step involve an investment on the part of Groupe Edipresse in a Tamedia share package.

The two partners will jointly develop new products for their advertising customers and will especially concentrate on offering national solutions. Furthermore, the merger will result in substantial improvements in managing the costs of central service sectors as well as the development of new media products. In view of the potential of the advertising market Romandie, the two partners plan to merge the activities of the two commuter papers 20 minutes and Le Matin bleu as quickly as possible.

The transaction will be subject to applicable regulations pertaining to competition law and will not take effect until the Swiss Federal Competition Committee has given its approval.

Outlook: Decrease in advertising investments expected

Tamedia does not expect any economic recovery in 2009. The increasing unemployment number and the decrease in economic growth are expected to lead to a decline in advertising investments. Tamedia expects that this development will spur structural changes in the media sector and also have a negative effect on customers, who will increasingly be sensitive to advertising costs. At the end of last year, Tamedia had already taken measures to reduce costs and will continue to monitor, as it has in the past, those media activities that are not reaching their goals.

Zurich, 31 March 2009 - Markus Eisenhut and Res Strehle will jointly take over the helm of the editorial office of Tages-Anzeiger. The current Deputy Editor-in-Chief of Tages-Anzeiger and the current Co-Editor-in-Chief of Berner Zeitung are succeeding Peter Hartmeier who will take on a new challenge within Tamedia. Effective June 2009, he will assume the position of Publisher at Huber &Co. AG, the publishing house of Thurgauer Zeitung. Res Strehle will take over his new responsibilities at Tages-Anzeiger effective 1 May 2009, while Markus Eisenhut will follow as of 1 June 2009.

The selection of Markus Eisenhut and Res Strehle by the Board of Directors of Tamedia was preceded by an extensive evaluation process that reflected the demands of the position. The new Co-Editors-in-Chief bring a broad range of experience in journalism and extensive management skills to the newspaper.

Res Strehle left Das Magazin in the spring of 2007 to join Tages-Anzeiger. For six years, from 2001 to 2007, the 58-year old was Editor-in-Chief and ultimately also Managing Director of the weekly publication. He continued to enhance the journalistic substance of Das Magazin together with his team and was instrumental in building a partnership with Basler Zeitung and Berner Zeitung. Under Res Strehle’s management the weekend supplement increased its readership significantly and was profitable for the first time in its history.

Prior to joining Tamedia, Res Strehle, who has a doctorate in economics, wrote for Weltwoche, Bilanz, Facts, and other publications, and in 1981 he was one of the founders of the weekly newspaper Woz. Res Strehle is the author of several books. He also lectured at the University of St. Gallen, the School for Social Work in Zurich, and the Centre for Media Studies (MAZ) in Lucerne.

Markus Eisenhut was project manager at 20 Minuten AG where he arranged the launching of the commuter paper 20 minutes in French-speaking Switzerland before joining Berner Zeitung in 2006. Together with Co-Editor-in-Chief Michael Hug he continued to develop the regional orientation of Berner Zeitung and expanded the publication’s successful association with independent partners. Previously, the 46-year old had played a major role in the reorientation of the media business of Vorarlberger Medienhaus in Romania and Hungary.

From 2001 to 2003 Markus Eisenhut headed the editorial staff of the commuter paper 20 Minuten, which more than doubled its readership during that period. Earlier, Markus Eisenhut, who pursued legal and German studies at the University of Zurich, had been Deputy Managing Editor at Tages-Anzeiger, Head of News of SonntagsZeitung, Editor of Schweizer Illustrierte, and Head of the sports section of Blick and SonntagsBlick.

Markus Eisenhut and Res Strehle have been working together since the fall of 2008 on the development of the Tages-Anzeiger. According to the new concept, the paper will consist of four bundles. Starting in the fall of 2009, the largest daily subscription newspaper in Switzerland will have a new high-quality appearance and will be much easier to navigate for the readers.

The new concept goes hand-in-hand with an adjustment of the cost structure to reflect the considerable decline in advertising and sales revenues of the past few years. The budget reduction is to be achieved through cost savings in editorial office and publishing, in the production by converting to a four-bundle newspaper, and by focusing on in-house editorial contributions. This budget cut will result in a reduction in staff, as yet undetermined, and early retirements.

Tages-Anzeiger will continue to have strong individual sections and a well-established network of correspondents. At the same time, it will increasingly utilise the advantages of an extensive multimedia system in cooperation with Newsnetz and News. Tages-Anzeiger will be further regionalized and strengthened by the combination of all regional reports in one section of the paper. A decision regarding the details of the new Tages-Anzeiger concept is expected during the summer of 2009 and will be announced at that time.

The Board of Directors and the Management Board of Tamedia wish Markus Eisenhut and Res Strehle every success in their new endeavour.

The companies Edipresse and Tamedia have decided on a strategic rapprochement. During an initial stage, the media company based in Zurich will acquire a 49.9% shareholding in Edipresse’s Swiss business. At the beginning of 2013, Edipresse’s Swiss business will be totally merged with Tamedia. The transaction will include both cash and Tamedia shares. The Edipresse Group will thus ultimately become a major shareholder in Tamedia. The international activities of the Edipresse Group will not be affected by the agreement. The two companies will create a national media enterprise with the necessary critical mass to guarantee growth and meet the challenges of foreign competition. The operation is subject to approval of the Swiss Competition Commission. 

Lausanne and Zurich, 3 March 2009 - Edipresse and Tamedia, two major Swiss media companies announced their intention to merge their Swiss business by 2013, creating a single enterprise capable of meeting market challenges. During an initial stage, Tamedia will acquire a 49.9% shareholding in PPSR, which represents most of Edipresse activities in Switzerland. During a second stage, Tamedia will acquire an additional 0.2% of PPSR at the start of 2011, followed by the remaining 49.9% in early 2013. The price for acquiring the first two shareholding is 226 million Swiss Francs, whereas the balance for the third transaction will depend on the development of Edipresse’s Swiss business. Part of the price for the final tranche will be paid in shares, thereby making Edipresse one of Tamedia’s major shareholders.

In addition to the difficult economic climate, the media industry is faced with an array of challenges including changes in reader and advertiser behaviour, the proliferation of information channels and the emergence of new powerful competitors in electronic media. Edipresse and Tamedia will be well positioned to meet these challenges on a national scale, with a new found determination and long term ambition. Mindful of their responsibilities and the fact that they share the same values, they will create a Swiss company reflecting the Country’s diversity and national identity.

The alliance of the two Groups should create substantial synergies. Both are publishers, one in German-speaking and the other in French-speaking Switzerland, of several regional titles, Sunday newspapers, magazines, free dailies and websites. Edipresse and Tamedia benefit from complementary portfolios. In the advertising domain, the partnership will offer national advertisers more effective services and new offers more suited to responding to their needs. The agreement will allow major economies of scale in terms of industrial production, distribution and technical infrastructures. It will also reinforce the overall capacity for innovation.

In French-speaking Switzerland, taking into account the advertising market potential, the two companies envisage merging the two publications 20 minutes and Le Matin bleu as soon as possible. In national terms, Edipresse and Tamedia will foster cooperation in on-line activities particularly in the employment domain. There is already a precedent for this as since 2004, their collaboration in Homegate, the leading Swiss Online real estate plattform, has proven to be very successful.

Once the first phase of the operation is implemented, the PPSR Board of Directors (which incorporates all Edipresse’s Swiss activities) will comprise five people, three appointed by Edipresse and two by Tamedia: Pierre Lamunière, Chairman, Pietro Supino, Vice-Chairman, Tibère Adler, Managing Director, Martin Kall and Michel Preiswerk.

At the same time, Pierre Lamunière will be invited to joint the Tamedia Board. Otherwise top and middle management of the two companies will remain unchanged.

The international activities of the Edipresse Group will not be affected by the merger, nor will the magazine Bilan and Edpresse’s luxury division which concentrates on providing multimedia products and solutions to the watch making industry.

The Board of Directors of the two companies have approved the merger. The transaction is governed by the competition legislation and will only come into effect after approval by the Swiss Competition Commission (COMCO).

Zurich, 24. February 2009 - Ueli Eckstein becomes new head of Tamedia's corporate division Espace Media. The 56-year-old is currently the deputy CEO and head of AZ Medien's print media division. He succeeds Albert P. Stäheli. The exact date of the change has to be defined yet.

The trained typesetter Ueli Eckstein has been working for Tamedia from 1976 until 1997. After having worked as an accountant for the former Tages-Anzeiger AG, he was, among other activities, a member of the managing board, the manager of the accounting department as well as director of controlling and deputy publishing director of the Tages-Anzeiger. In this capacity he was leading in the introduction of the culture newspaper section and the communication concept «Wir bleiben dran». From 1995 to 1997, before changing to AZ Medien, Ueli Eckstein managed the publishing division of the SonntagsZeitung.

Dr Urs Schweizer, head of the corporate division Publishing Service, will leave Tamedia at the end of 2009 to join the NZZ Group. In 2008, when Tamedia and the Espace Media Group merged, the 52-year-old, who had already been working for the Espace Media Group for 20 years, became a member of the managing board. From 1993 to 2007 he was in charge of the divisions Print and Management and most recently was the deputy CEO of the Espace Media Group.

The board of directors and the management board of Tamedia would like to thank Urs Schweizer for his dedicated and successful commitment and wish him and Ueli Eckstein every success for their new endeavours.

Zurich, 11 February 2009 - The media company Tamedia has acquired a minority share in the Online boutique FashionFriends per 30 January 2009, expanding its Online activities to include an innovative platform in the area of e-commerce. Tamedia has the option to increase its share in multiple steps.

The start-up company FashionFriends offers its invited members as of March 2009 selected brand clothing and accessories of upscale fashion and lifestyle labels at very attractive prices. The items are customised to each member’s individual taste and offered in the context of time-limited shopping opportunities. The Online fashion boutique complements its offering with a combination of automated and personalised style consulting services for registered members.

The founding team includes Klaus Hommels, Oliver Jung and Peter Schüpbach, all of them experienced Online investors who have already accompanied start-ups such as Skype, StudiVZ, Trigami and Xing. The headquarter of FashionFriends AG is based in Langenthal.

The partners have agreed to keep the details of the transaction confidential.

The transfer of early delivery services from media groups NZZ Group and Tamedia to Swiss Post, announced in autumn 2008, is to be implemented. The relevant agreements have been signed by both media groups and Swiss Post in the last few days and the transactions have been registered with the Federal Competition Commission.

Following approval from the Competition Commission, a strong early delivery organisation is to be established for German-speaking Switzerland under the management of Swiss Post. NZZ Group and Tamedia will retain a 12.5 per cent share in the business. At the same time as the transfer of the early delivery service, Tamedia plans to take over a majority share in the Internet portal search.ch. As a result, the three companies will be in a better position to concentrate on their core business.

Zurich, 2 February 2009 - The media company Tamedia is increasing its share in the leading Swiss nightlife internet platform tilllate.com by another 51 percent to 86 percent. The two partners have agreed to intensify their cooperation further thanks to their successful collaboration and because of the changed field of competition. The other 14 percent of the share capital will remain with the founders Christian Hagmann, Silvan Mühlemann, Markus Popp and André Schraner, who will continue to support the expansion of the platform in Switzerland.

As market leader in the sector of nightlife platforms, tilllate.com complements the online media from Tamedia ideally. Thanks to the majority share of Tamedia AG in Tilllate Schweiz AG, synergies can even be used better between the two companies and additional cooperative ventures can be launched. tilllate.com has already been working together with 20 Minuten for quite some time and is a partner of the people magazine Friday, which was launched in the fall 2008. After the acquisition of the majority of the Swiss business by Tamedia Tilllate Holding AG is going to concentrate on foreign markets and will rearrange its activities in this segment.

The platform tilllate.com was founded in 2000 and reaches approximately 400,000 unique clients (Wemf NET audit December 2008) in Switzerland today. More than 200,000 users are registered at the portal. Tamedia purchased 20 percent of the share capital of Tilllate Schweiz AG in a first step on 1 July 2007; the media company increased its share by another 15 percent in May 2008. Tilllate Schweiz AG employs approximately 30 people, in addition about 350 photographers work for the platform week after week.

The partners have agreed to keep the details of the transaction confidential.

Zurich, 6 January 2009 - The Tamedia media enterprise acquires a share in the job search portal jobsuchmaschine.ch. The specialised search site will strengthen the market position of Tamedia’s job market online, which up to now consisted of the job portals alpha.ch and jobwinner.ch. In the future, the ads of alpha.ch and jobwinner.ch will be integrated into the services of jobsuchmaschine.ch and the job portals will be linked to each other. The partnership between alpha.ch, jobwinner.ch and jobsuchmaschine.ch will produce the second-strongest job platform network in Switzerland in terms of ads and range.

The job search portal jobsuchmaschine.ch was founded in the year 2000 and is based on a search robot developed by the founding team. The robot searches hundreds of websites of companies and personnel consultants as well as job platforms of other providers for new job openings on a daily basis. In Switzerland jobsuchmaschine.ch reaches 101,000 unique clients (Wemf NET Audit November 2008). In addition to the search portal jobsuchmaschine.ch, Jobsuchmaschine AG operates the fee-based job site jobengine.ch and the information service jobmonitor.ch for human resources specialists.

In a first step, effective end of 2008, Tamedia acquired 20 percent of Jobsuchmaschine AG, domiciled in Berne, which was before wholly owned by the founders. An increase in the holding to 49 percent is planned for 2011. The remaining 51 percent are expected to be taken over in 2013. The parties have agreed not to disclose additional terms of the transaction.

Furthermore, since the beginning of December 2008 Urs Hügli, supported by the management team of the leading Swiss real estate site homegate.ch, has been enforcing the expansion of Tamedia’s job market online. For the time being, Urs Hügli, CEO of Homegate AG, will also be responsible for the online job market. Hügli has been heading Homegate AG, in which both Tamedia and Edipresse are holding a 45 percent interest, since its foundation in 2001 and has turned homegate.ch into the market leader in Switzerland together with his staff, now numbering 36. Up until the year 2000 he had held various management positions at the Zürcher Kantonalbank and other Swiss financial institutes.

Zurich, 19 November 2008 - Editor-in-Chief Peter Hartmeier has decided to pass the lead of Tages-Anzeiger to a successor during the course of the year 2009. Hartmeier (56) has been in charge of the editorial office of the largest subscription daily newspaper in Switzerland for six years. He is to be elected new Chairman of the Board of Huber &Co. AG in Frauenfeld at the next general assembly. After the completion of the ongoing further development of Tages-Anzeiger he will also become publisher of Thurgauer Zeitung within the newspaper network Nordostschweiz.

In the months ahead, Peter Hartmeier will move the further development of Tages-Anzeiger forward as a member of a steering team headed by publisher Pietro Supino. The team also includes Chief Executive Officer Martin Kall and Rolf Bollmann, Head of the Media Zurich &Northeastern Switzerland Division. The goal of the project is to strengthen the regional ties and the position of Tages-Anzeiger in Zurich. The performance of the largest newspaper editorial office in Switzerland shall be improved by a revised journalistic concept and more efficient processes. A new design and the introduction of a compact page architecture comprising four separate sections are also under review. This alteration would allow later editorial deadlines for local reporting and regional information could be combined in one section. With his move, Peter Hartmeier intends to give his successor the opportunity to shape the enhanced version of Tages-Anzeiger over an extended period of time.

After handing over the editorial management of Tages-Anzeiger, Peter Hartmeier will assume responsibility for the journalistic and economic success of Thurgauer Zeitung as chairman and publisher. The position of Huber &Co. AG as a leading media company in Northeastern Switzerland will be strengthened by intensifying the successful editorial and publishing relationship with Ziegler Druck- und Verlags-AG in Winterthur. At the same time, the company’s local identity, which is based on a 200-year history, is to be preserved. In his position as Chairman of the Board of Huber &Co. AG Peter Hartmeier will report to Rolf Bollmann, Head of the Media Zurich &Northeastern Switzerland Division. In regard to journalistic issues, Peter Hartmeier will continue to be directly responsible to Tamedia’s Chairman of the Board Pietro Supino.

Peter Hartmeier left the Swiss Press Association in 2001 to join Tamedia. Before taking over as Editor-in-Chief of Tages-Anzeiger in 2002 he was Head of Corporate Communications of the media company. Under his guidance the regional editions of Tages-Anzeiger were launched and the online news portal tagesanzeiger.ch was expanded as part of the Newsnetz.
The Board of Directors and the Management Board wish to thank Peter Hartmeier for his commitment and his successful contribution in the past and look forward to continuing their collaboration. Information regarding a successor will be released at a later time.

Zurich 31 October 2008 - TeleZüri takes note of the decision made by the Department of Environment, Transport, Energy and Communications (DETEC) to not issue a new licence for the oldest and most successful private television station in Switzerland, finding it incomprehensible. Within the upcoming weeks, TeleZüri will review the option to appeal against the decision before the Federal Administrative Court in Berne, but also the prospects of broadcasting without a license. 

With regard to the possibility of broadcasting without a license, TeleZüri has already been in discussion with Swiss cable network providers in the German speaking parts of Switzerland since the spring of 2008. A larger broadcasting area and a preferred channel in the cable network would be required to be able to maintain the same quality of programme service that has been offered until now without a licence and in face of a fee-financed competitor with guaranteed cable network access. TeleZüri will inform in due time on the next steps.

Zurich, 31 October 2008 - The Department of Environment, Transport, Energy and Communications (DETEC) has issued Radio 24 the new VHF licence valid until 2019. The oldest private radio station in Switzerland sees this as confirmation of the high dedication by all members of the editorial team, the radio hosts team, the technology staff and sales department to provide the listeners a radio programme around the clock that is not only informative but also entertaining. With the new licence, the regional radio station for Zurich and the surrounding region is able to continue its programme.

Radio 24, as the first private radio station in Switzerland, reaches more than 250,000 listeners every day. Thanks to it extremely well-equipped editorial team, Radio 24 is able to offer its listeners continuously updated news and information broadcasts every half an hour from 6.00 am to 8.00 pm.

The media company Tamedia is expanding its online involvement in the Internet TV market by acquiring a stake in Zattoo’s Swiss business. For this purpose Zattoo Europe Ltd. is spinning off its activities in Switzerland and Liechtenstein into Zattoo Switzerland Ltd. The cooperation provides Zattoo with the opportunity to further expand and market, in collaboration with a leading Swiss media company, the Internet TV service it launched in 2006.

In a first step, Tamedia will participate in the financing of Zattoo International Ltd. with a loan and will support the company in its efforts to spin off Zattoo Switzerland Ltd. When the subsidiary company has been established, Tamedia is to assume 24.5 per cent of the capital share in the Swiss company by converting the loan into an equity position. The parties have agreed to maintain silence about the further modalities of the participation.

Zattoo, which is based on a peer-to-peer network, currently broadcasts more than 70 of the most popular television channels directly to the computers of registered users. Today, the TV service provider has over 800,000 registered users in Switzerland. The service is also available in Belgium, Denmark, France, Germany, Great Britain, Norway and Spain, and overall more than three million people have registered. Zattoo is located in Zurich and Ann Arbor (USA) and employs a staff of about 40 people.

The first time consideration of Espace Media Groupe and investments in new me-dia projects result in a downturn of profitability

Zurich, 9 September, 2008 - The first time consideration of Espace Media Groupe and investments in new media projects distinctively define the results stated in Tamedia’s semiannual financial statements for the first half of the year 2008. Business revenue (operating income) increased by 32.1 per cent to 472.8 million primarily as a result of considering the daily newspapers, gazettes, special interest publications, electronic media and services of the Espace Media Groupe. The lower profit-ability of the Espace Media Groupe and the high costs for launching L’essentiel, News and Newsnetz as well as the further expansion of 20minuten.ch resulted in a significant downturn in the margins. At the same time, the potential synergies, which were already identified in the process of the merger between Tamedia and Espace Media Groupe, have not yet kicked in during the first half-year so as to be able to positively affect results. As a consequence, operating income before interest, taxes, depreciation and amortisation (EBIDTA) showed below-average growth by 9.7 per cent to CHF 85.0 million (previous year CHF 77.5 million). The EBITDA margin fell from 21.7 per cent in the first half-year 2007 to 18.0 per cent. Operating income after depreciation and amortisation (EBIT) rose also only slightly, compared to the comparison period by 2.7 per cent to CHF 68.6 million (previous year CHF 66.8 million). Thus, the new EBIT margin is now at 14.5 per cent (previous year: 18.7 per cent).

Results from continued operations declined in the first half year 2008 by 7.5 per cent to CHF 55.1 million (previous year: CHF 59.5 million). Not included in these results are the printing activities from Huber PrintPack AG in Frauenfeld and Benteli Hall-wag Druck AG in Wabern. Overall earnings, including discontinued operations, dropped by 4.4 per cent to 49.0 million (previous year: CHF 51.2 million). Due to measures to improve overall performance and the integration of the two companies moving forward at a rapid pace, the objective to be able to achieve profitability levels with Espace Media Groupe medium-term comparable to those margins Tamedia has been accustomed to in the past still seems realistic.

The weakening economy especially influenced results at the end of the semester as seen in the number of investments in advertising. The Publicitas Index for advertising expenditures in the daily press initially showed a slight increase at the beginning of the year followed by decreasing results and in June reached a value lower than in the previous year. In addition to the economy, the European Football Championship 2008 held in Switzerland and Austria seemed to have had a negative impact on advertising expenditures. Despite this, after its decrease in June, sales volume from employment ads overall are still higher than the comparison value of the previous year.
 
Newspapers
Revenue (operating income) in the Newspaper division increased by 25.0 per cent to CHF 337.2 million. Contributed to the increase has the consideration of the complete edition of Berner Zeitung, Bund and the gazettes from Espace Media as well as 20 Minuten, 20 minutes and Thurgauer Zeitung. While Finanz und Wirtschaft continued to develop at a steady pace, Tages Anzeiger and Sonntags Zeitung showed lower revenue. Alpha and Stellen-Anzeiger are reporting slightly lower revenue figures as compared to the previous year. On the other hand, 20 Minuten and Thurgauer Zeitung were able to significantly increase their income from advertising with employment ads. Because of investments in the commuter papers 20 minutes, L’essentiel and News and the recently added newspapers from Espace Media, the operating expenses in this division rose disproportionately. The operating income before depreciation and amortisation (EBITDA) declined therefore by 7.2%to CHF 47.9 million. Operating income (EBIT) in the Newspaper division declined by 8.2 per cent to CHF 46.5 million, thus contributing 68.1 per cent to group earnings. The EBIT margin fell by 5.0 percentage points to 13.8 per cent.
 
Magazines
In the Magazine division, the special interest publications Fachmedien Mobil with Autmobil Revue, Revue Automobile, Moto Sport Schweiz and Moto Sport Suisse as well as the Fachmedien Agrar with Schweizer Bauer were newly added. Thanks to these titles now being considered and growth in Schweizer Familie, the magazines division is being re-ported with higher revenue at CHF 54.8 million at an increase of 37.9 per cent as compared to the same period in the previous year. While Schweizer Familie continues its growth in revenue, the women’s magazine Annabelle recorded a slight decrease in turnover and results. The EBITDA in the magazines division rose by 58.4 per cent to CHF 8.7 million and the results in the EBIT category rose equally to CHF 8.6 million. At 1.9 percentage points higher as compared to the figure in the previous year (13.7 per cent), the EBIT margin is thus at 15.6 per cent.

Electronic Media
Revenue in the Electronic Media division increased by 38.7 per cent to CHF 38.8 mil-lion. The growth in this division is for the most part due to the newly contained capital radio station Capital FM, TeleBärn and the internet real estate platform Homegate. Also contributed to the increase has the positive development of 20minuten.ch as well as the employment ads internet platforms alpha.ch and jobwin-ner.ch. However, Capital FM, Radio 24, TeleBärn and TeleZüri were affected by an overall decrease in radio advertising and the shift in TV advertising spending to foreign based advertising windows and thus reported a slight decrease in revenue. Operating expenses in this division are much higher due to first time consideration of Espace Media’s electronic media as well as investments made in the Newsnetz of Berner Zei-tung and Tages-Anzeiger. EBITDA decreased by CHF 2.8 million to CHF -1.7 million. Op-erating income (EBIT) decreased by CHF 3.7 million to CHF -3.1 million CHF. The EBIT margin is new at -7.9 per cent (previous year: 2.1 per cent).
 
Services
Once again, the Services division showed pleasing developments and reported in-come growth by 51.1 per cent to CHF 169.7 million. This increase is mostly due to first time consideration of the activities from Druckzentrum Espace, Büchler Grafino and the delivery organisation Bevo, which is located in Berne. Contributed to the positive development has once again the Druckzentrum Bubenberg in Zurich, which was able to significantly increase revenue thanks to improvements in utilised capacities and additional contracts. EBITDA in the services division increased by 55.6 per cent to CHF 30.2 million thus contributing 24.2 per cent to group earnings. Its mar-gin rose slightly from 17.3 to 17.8 per cent. Its EBIT also increased as a result of the disproportional low rise in depreciation and amortisation of CHF 13.6 million (previous year CHF 9.3 million) by 63.9 per cent to CHF 16.6 million. Its EBIT margin rose by 0.8 percentage points to 9.8 per cent. Not included in these results are the print-ing activities of Huber PrintPack AG and Benteli Hallwag Druck AG, which are item-ised as discontinued operations.

Balance Sheet
In the first half of the year 2008, the balance sheet total increased from CHF 1,151.3 million by CHF 49.1 million to CHF 1,200.4 million. Equity decreased by CHF 2.8 mil-lion or 0.4 per cent to CHF 739.4 million. The decrease in equity was the result of dividends in the amount of CHF 42.4 million (CHF 4.00 per share) that were paid out, a reduction in the minority interests in equity by CHF 12.8 million and a decrease in treasury shares by CHF 0.5 million that was taken to fulfil the employee profit par-ticipation for 2007 that was drawn in shares. Positive results were not just able to offset these reductions that were fairly substantial. The equity ratio decreased slightly and is now at 61.6 per cent (end of 2007 64.5 per cent).

Zurich, 1 September 2008 - Albert Polo Stäheli, until now head of the company’s
Espace Media division, leaves Tamedia in September to become new CEO of the AG
für die Neue Zürcher Zeitung as of 1 October 2008. Stäheli continues to head the
Espace Media division until his departure. Afterwards Martin Kall, Chief Executive
Officer of Tamedia, will take over as ad-interim head of the division.

Polo Stäheli, born in 1949, began his engagement with the Berner Zeitung AG at the
beginning of 1981. In 1987 he took on the leadership of the Berner Tagblatt Media BTM.
In 1993 he became CEO of the Espace Media Groupe and following the merge with
Tamedia, in 2008 member of the Tamedia Management Board.

The Board of Directors and the Management Board of Tamedia thank Albert Polo
Stäheli for his long-term and successful services and wish him all the best for his
new engagement with the NZZ.

Zurich, 26 June 2008 - In cooperation with Annabelle and tilllate.com 20 Minuten will launch a new, free people magazine. The magazine carries the project name 20 Minuten «Youngster» and will be distributed in an initial print run of 137,000 copies every Friday evening via the 20 Minuten boxes and other distribution points. The publication will be printed on magazine paper and will comprise about 52 pages. 20 Minuten «Youngster» - the name has not yet been finalized - will be published for the first time on Friday, 31 October 2008.

20 Minuten «Youngster» focuses on stories from the world of the national and international stars and stands out due to a strongly pictorial design. An extensive fashion section and style columns will round out the offering. The detailed event calendar in the culture section will be compiled by tilllate.com, the leading Swiss nightlife portal. The magazine will therefore combine the news and celebrity expertise of 20 Minuten with the experience of Annabelle and tilllate.com in the areas of fashion, style and nightlife.

Marco Boselli is to be editor-in-chief of the magazine. The editorial team comprising about 20 full-time positions will be managed by Kerstin Netsch and Sabine Eva Wittwer. Kerstin Netsch graduated in film and television studies, and started out in journalism with internships at the magazine «Jetzt» of the Süddeutsche Zeitung, the women's magazine Allegra and at the Beobachter. Now aged 33, she went on to work as an editor on the reporting desk at Annabelle before joining 20 Minuten in 2006, where she since 2007 manages the editorial team of 20 Minuten Week. Sabine Eva Wittwer commenced her career in journalism in 1997 with the launch of the pop culture magazine Soda, where she was editor-in-chief until 2000. The today 33-year-old then went on to work for various publications such as 20 Minuten, Bolero, Facts and the magazine of Sonntagsblick before joining the evening newspaper Heute in 2007. Most recently, Sabine Eva Wittwer headed the Life department at Blick am Abend. Lisa Feldmann, editor-in-chief of Annabelle, will accompany the work of the editorial team.

Dominique von Albertini, as yet manager of the Reader Market of the Tages-Anzeiger, will become publishing director. Dominique von Albertini joined the Tages-Anzeiger publishing house in 1999, working as project manager and advertising manager among other assignments. He became manager of the Reader Market at the Tages-Anzeiger in 2006. Sales of 20 Minuten «Youngster» will be handled by the existing sales organisations of 20 Minuten and Annabelle, headed by Marco Gasser and Daniel Schnüriger. Uli Rubner, until the end of April 2008 member of the management board of Tamedia and responsible for the Magazine division, will act as project manager until the launch of 20 Minuten «Youngster».

The entertainment and event magazine Week, which has been distributed via the 20 Minuten boxes on Fridays since 2003, will continue to be published every two weeks until the end of the year as a Good News special for the members of Good News and will then be discontinued.

Zurich, 19 May 2008 - The Tamedia publishing house has increased its share in the leading Swiss nightlife-platform tilllate.com by 15 percent to 35 percent. Due to the successful collaboration, both partners agreed to further intensify the cooperation and increase Tamedia’s share in tilllate Schweiz AG more rapidly than originally planned.

The premature accumulation of capital permits the tilllate Holding AG, to accelerate expansions planned in Switzerland as well as abroad. The increase of the Tamedia share by a further 14 to 49 percent will follow, as planned, at the beginning of 2010. The parties agreed on silence concerning the details. 

The platform tilllate.com was founded in 2000 and reaches 459,000 Unique Clients (Wemf NET-Audit April 2008) today in Switzerland, with 200,000 users registered at the portal. Tamedia took over 20 percent of the tilllate Schweiz AG capital share per 1 July 2007. The tilllate Schweiz AG occupies around 35 employees and, in addition, week after week around 350 photographers are in action. 

The Founding Family Extends the Stockholder Binding Contract and Plans to Increase Free Float

Zurich, 8 January 2008 - The founding family of today's Tamedia AG has extended its stockholder binding contract concluded in 2000 until the year 2017. Consequently, the representatives of the fourth and fifth family generation, who currently own approximately 72 percent of the capital and voting rights of the company, are obligated to collectively exercise their voting rights in electing the executive board and in voting on essential business matters.

With the extension of the stockholder binding contract, the founding family is demonstrating its strong connection with Tamedia and ensuring the long-term independence of the Swiss media company thanks to a stable base of stockholders.

At the same time as the extension of the stockholder binding contract, the 21 involved members of the founding family have confirmed their intention to increase the share of freely traded stocks to approximately 33 percent in the next years. Approximately 500 000 registered shares will be made available for additional transactions or will be placed on the market. The share of stocks committed in the stockholder binding contract will be 67 percent on a long-term basis.

The medium-term raise of the free float demonstrates a commitment to the stock market and will result in an increase of the liquidity of the Tamedia shares in stock exchange transactions, which corresponds to a market need.