Newspaper contributions: What Benko wants to do with "Krone" and "Kurier"

This is his first investment in the media. Signa's participation is via a 49% stake in WAZ Ausland Holding GmbH. The German group Funke owns 50% of the "Kronen Zeitung" and almost half of the "Kurier".

For Funke CEO Michael Wüller, Signa is a "strong partner for our publishing activities in Austria". Benko and Wüller highlighted the challenge facing the sector through digitization in their joint release. This dissolves "the boundaries between traditional business models," said Benko. He will bring his know-how "in the transformation of strong brands" in the partnership.

Waiting for the antitrust authority

The cooperation begins "after liberation by the competent antitrust authorities," the statement added in the transmission Monday morning at the entrance to Signa. Signa then held the equivalent of 24.22% of the "mail" and 24.5% of the "crown". Silence was agreed on the purchase price.

On the part of the Raiffeisen taking one, it remained Monday. Raiffeisen will continue to have "the clear majority of 51%" in the "mail", nothing will change, said Raiffeisen-Holding Lower Austria chairman and "Kurier" supervisor Erwin Hameseder of APA .

Raiffeisen had been informed of the agreement between Funke and Signa, Hameseder continued. "To my knowledge, the spark remains the only control, even in the Austrian holding, and in this condition, nothing changes."

"No comment" by Christoph Dichand

Equally important, according to Hameseder, "is that there is still a very good cooperation with the" Krone "in the Mediaprint." Mediaprint is the joint publishing subsidiary of "Kronen Zeitung" and "Kurier". Christoph Dichand made no comment, as he was called Monday at APA in the office of the editor-in-chief "Crown" and editor-in-chief, who represents the family on the shareholders' committee.

It is striking that the entry of Signa was made public shortly after the legacy of the founder of "Crown", Hand Dichand, eight years after his death. At the end of September, Helga Dichand and her three children, Michael, Johanna and Christoph, took over 50% of Dichand's share in the "Krone". The four heirs each hold 12.5% ​​of the largest Austrian newspaper. The Dossier search platform reported a corresponding entry in the commercial register.

Conflicts since the 2000s

The Funke Group has been a member since 1987 of the "Kronen Zeitung" and, since 1988, of the "Kurier" – the company was still trading under the name "Westdeutsche Allgemeine Zeitung" ("WAZ"). This constellation of fifty-five at the "Kronen Zeitung" is not without problems. For years, a shareholder dispute has occurred, which has repeatedly ended in arbitration courts. The Dichand and Funke, their German partner, have been fighting since the early 2000s for strategic orientations and daily management. This also took after the death of Hans Dichands in June 2010 without end. Since then, the sheet is led by Christoph Dichand.

Benko buys in the media

René Benko is now the richest person in Austria in eight years. What is driving him to enter the "Kronen Zeitung" and the "Kurier"?

Rumors of a sale of spark shares regularly make the rounds. In this unharmed balance, the Signa contract could create a new dynamic. However, according to the family, the long duration of the probate process may be due to Dichand's extensive collection of works of art.

Also APA building in the neighborhood

The Dichand Heritage Settlement became known as part of a crowdfunding campaign by Dossier. On the occasion of the 60th anniversary of Dichand's "Krone", the research platform wants to launch for the first time a print magazine in April 2019, which deals with the "grandmother of all the tabloids" Austrian "monothematically, as it was called during the event.

Benko also recently bought the APA tower in Vienna-Heiligenstadt in the Gunoldstraße in the 19th district – right in front of the "Kronen Zeitung" with the address Muthgbade 2. Since 2014, the "Kurier" is in the immediate vicinity .

The new giant of Benko department stores in Germany

Signa is known primarily as a real estate company, but has also grown in department stores. Just last week, the guard of German competition paved the way for a new giant department store in Germany. The German Bundeskartellamt has no objection to the merger of Benkos Karstadt and Kaufhof, as announced the authority Friday in Bonn. HBC, owner of the Canadian company Kaufhof, welcomed this decision. This was an "important step" in the completion of the transaction.

In summer alone, Signa acquired the Kika / Leiner furniture chain. The former parent company Steinhoff had pushed furniture stores deeper and deeper into the crisis. In mid-June, South African retailer Steinhoff sold its subsidiary kika / Leiner to Signa as part of an emergency agreement. Taking into account the purchase price of 490 million euros for real estate and a restructuring contribution of more than 100 million euros, the cost of Signa's transaction exceeded 600 million euros.

Benko's network includes the founder of STRABAG, Hans-Peter Haselsteiner, the former German Chancellor Alfred Gusenbauer (SPÖ), the airliner Niki Lauda, ​​the general manager of Wüstenrot, Susanne Riess, the founder of Novomatic Johann Graf, consultant Roland Berger and Federal Chancellor Sebastian Kurz (ÖVP). with whom he – with a trade delegation – went to the United Arab Emirates (UAE).