Signa Insolvency โAdministrators Approve Dichandโฃ Family’s Full Acquisition โof “Kronen Zeitung”
VIENNAโ – Insolvency administrators for Signa Holding have given โthe green light for the Dichandโ family too acquire full ownership of Austria’s “Kronen Zeitung” newspaper, ending aโ complex periodโฃ of shared ownership and clearing a key hurdle for the transaction announced in June. Theโ deal remainsโข subject to antitrust โขapproval and other market-related conditions.
The move consolidates control of โtheโข popular โฃdaily back into the โhandsโ ofโค the founding family, nearly six decades after Johann Hermann โ”Hans” Dichand established the paper in 1959. Hans dichand, who diedโ in 2010, remains a symbolic figure โขfor the publication, with his portrait still displayed at the newspaper’s entrance. Previously,the Dichand family shared โownership with WAZ,and later,through WAZ,withโ Signaโฃ Holding andโ theโ Funke โGroup.
Complex Ownership History
The “Kronen Zeitung’s” ownership structure became intricate following a dispute in the 1980s between hans Dichand and Kurtโ Falk, an advertising specialistโ who subsequently โsold hisโค shares to the German WAZ publishing group. Signa Holding held a 49.5 percent stake in WAZ abroad Holding GmbH,which in turn controlled 50 percent of the โ”Krone” publishing company โthrough it’s subsidiary,NKZ Austria-Beitungs GmbH. Theโข Funke Group owns 50.5 percent of โคWAZ abroad Holding GmbH.
Impact on โ”Kurier” Ownership
the approval also impacts Signa’s involvementโฃ in the “Kurier” newspaper, โขwhere โคtheโฃ group held approximately 25 percent of shares. A decision regarding theโฃ sale of theseโ shares is pending, with Raiffeisen Bank โ- already holding a majority stake in the “Kurier” – previously expressingโ interest.