Eventim Steps Into Swiss Market

German ticketing giant CTS Eventim’s bid to team with Switzerland’s leading media company is expected to swing into operation next month.

By teaming with Ringier, Eventim hopes to create what it hopes will be Switzerland’s biggest company.

The 50-50 joint venture is hoping Andre Bechir’s Good News promotion company – whose shareholders include Ringier and rival German promoter DEAG – will be a major content provider.

Ringier Verlag, Ringier’s publishing house, bought 39 percent of Good News from DEAG in 2001, which still left Peter Schwenkow’s company with a 51 percent majority holding in the Zurich-based promoter.

Schwenkow exercised an option to buy back the shares in 2006, although soon re-sold 43 percent of the company to Ringier for euro 2.2 million.

The new firm, which will be called Eventim CH Ag, will be incorporated as a public limited company under Swiss law.

Eventim chief exec Klaus-Peter Schulenberg says the new company will benefit from being a collaboration between two market leaders. He described it as “the ideal conditions for a Swiss success story.”

Eventim and Ringier will appoint the new company’s supervisory board and board of directors on a joint basis. The company will be consolidated in CTS Eventim’s annual financial statements.