The Zurich-based publishing company Ringier has decided to sell its 33.3% stake in the pay-TV operator Teleclub for an undisclosed fee.
The transaction will take place at the end of this month and leave Teleclub wholly owned by Cinetrade, itself 49% owned by the telco Swisscom.
Although Ringier’s entertainment division is undergoing restructuring, the company says that television remains of “strategic importance” to its activities.
