Review of the TX Group's real estate strategy is proceeding
February 26, 2024 at 12:28 am EST
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TX Group / Key word(s): Real Estate/Strategic Company Decision
Review of the TX Group's real estate strategy is proceeding
26-Feb-2024 / 06:25 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
In December 2022, TX Group announced that it would review and further develop its real estate strategy in the coming years. This process is now one step further: TX Group is evaluating the bundling of its portfolio in a separate company and assessing forms of cooperation with specialized real estate companies. For this purpose, TX Group talks with selected potential partners. At this stage, it remains to be seen whether such a transaction will materialize.
TX Group's real estate portfolio includes three newspaper printing centers. Printing volumes are declining throughout the industry. Capacity must be reviewed on an ongoing basis. This goes hand in hand with the question of real estate development of the printing centers in the event of a change of use. Considerations are ongoing. With three printing centers still in operation, it will be possible to gradually adapt to the declining volume.
Reviewing the real estate strategy and the development of the printing centers is an ongoing process. TX Group will inform about possible implementation.
About TX Group
The TX Group forms a network of platforms and participations that offers users information, orientation, entertainment and assistance for everyday life on a daily basis. Its roots lie in journalism with the diverse newspapers of Tamedia and the free media of 20 Minuten. The portfolio is complemented by the advertising marketer Goldbach. The TX Group is an anchor shareholder of the SMG Swiss Marketplace Group and JobCloud, holds majority stakes in Doodle and Zattoo and is an investor in the fintech sector through TX Ventures. Founded in 1893, TX Group has been listed on the Swiss stock exchange since 2000. www.tx.group
TX Group AG is a Switzerland-based Company that operates as a media Company. The Company diversifies its activities into five main segments: Tamedia, TX Markets, Group & Ventures, Goldbach, and 20 Minuten. Tamedia is a paid media division that is engaged in providing daily and weekly newspapers, magazines and news platforms. TX Markets concentrates on investments in portfolio of classifieds and marketplaces within the Group. Group & Ventures is involved in digital platforms, namely Doodle and Zattoo as well as it concentrates on investments in the fintech area. Goldbach focus on advertising and marketing across TV, print, radio, and other media. 20 Minuten is a free media segment which covers printed and digital newspaper. The Company serves customers in Switzerland, Germany, and Austria.