New owner to pull plug on Tele24

Web's parent co. Belcom sold to Tamedia

ZURICH — Switzerland’s first private national web, 3-year-old Tele24, is set to shutter.

TV and radio pioneer Roger Schawinski and minority partner Credit Suisse First Boston have sold the web’s parent company, Belcom, to Zurich media conglom Tamedia in a deal worth 92 million Swiss francs ($56 million).

Tamedia owns TV3, the only other private national channel, and is expected to close Tele24, but Schawinski’s 7-year-old local web TeleZuri and private radio station Radio24 will remain operational.

Tamedia CEO Michel Favre said he is confident he will gain government approval for the deal.

Schawinski has fought for more liberal media legislation in the country since founding Radio24 22 years ago. He has accused the government of holding back private webs with restrictive rules, especially on the minutes per day allotted to commercials.

New media laws are being prepped in Switzerland, but insiders say proposals do not look much better for private channels.

More TV

  • Jessica Chastain Hosts 'SNL' With Important

    Jessica Chastain Hosts 'Saturday Night Live' With Important Message for Women on the Eve of the 2nd Annual Women's March (Watch)

    ZURICH — Switzerland’s first private national web, 3-year-old Tele24, is set to shutter. TV and radio pioneer Roger Schawinski and minority partner Credit Suisse First Boston have sold the web’s parent company, Belcom, to Zurich media conglom Tamedia in a deal worth 92 million Swiss francs ($56 million). Tamedia owns TV3, the only other private […]

  • Fisher Stevens, Ross Kauffman Team for

    Fisher Stevens, Ross Kauffman Team for Discovery Documentary 'Taken By the Tiger'

    ZURICH — Switzerland’s first private national web, 3-year-old Tele24, is set to shutter. TV and radio pioneer Roger Schawinski and minority partner Credit Suisse First Boston have sold the web’s parent company, Belcom, to Zurich media conglom Tamedia in a deal worth 92 million Swiss francs ($56 million). Tamedia owns TV3, the only other private […]

  • Peter Dinklage Thinks It's 'the Perfect

    Peter Dinklage on Why It's 'the Perfect Time' to End 'Game of Thrones'

    ZURICH — Switzerland’s first private national web, 3-year-old Tele24, is set to shutter. TV and radio pioneer Roger Schawinski and minority partner Credit Suisse First Boston have sold the web’s parent company, Belcom, to Zurich media conglom Tamedia in a deal worth 92 million Swiss francs ($56 million). Tamedia owns TV3, the only other private […]

  • NBCUniversal Content Studio Plucks Peacock TV

    NBCUniversal Content Studio Plucks Peacock TV Talent for Branded Video

    ZURICH — Switzerland’s first private national web, 3-year-old Tele24, is set to shutter. TV and radio pioneer Roger Schawinski and minority partner Credit Suisse First Boston have sold the web’s parent company, Belcom, to Zurich media conglom Tamedia in a deal worth 92 million Swiss francs ($56 million). Tamedia owns TV3, the only other private […]

  • Paul Bettany2017 Lincoln Center Corporate Fund

    'The Crown': Paul Bettany in Talks to Play Prince Philip

    ZURICH — Switzerland’s first private national web, 3-year-old Tele24, is set to shutter. TV and radio pioneer Roger Schawinski and minority partner Credit Suisse First Boston have sold the web’s parent company, Belcom, to Zurich media conglom Tamedia in a deal worth 92 million Swiss francs ($56 million). Tamedia owns TV3, the only other private […]

  • Rihanna France Concert Canceled

    Rihanna to Perform at Grammys With DJ Khaled and Bryson Tiller

    ZURICH — Switzerland’s first private national web, 3-year-old Tele24, is set to shutter. TV and radio pioneer Roger Schawinski and minority partner Credit Suisse First Boston have sold the web’s parent company, Belcom, to Zurich media conglom Tamedia in a deal worth 92 million Swiss francs ($56 million). Tamedia owns TV3, the only other private […]

More From Our Brands

Access exclusive content