media
TX Group establishes new real estate division
From the beginning of 2023, the Zurich-based TX Group will combine its properties in an independent division at group level. A separate fintech investment fund with a volume of CHF 100 million will also be launched within TX Ventures.
The TX Group, which includes the Tamedia newspapers, has set itself new strategic goals. Among other things, the company summarizes its real estate in a separate division. (icon picture)
In the future, the TX Group, which is primarily known for its media brands such as “Tages-Anzeiger” or “20 Minuten”, intends to further develop its real estate in a separate, profit-oriented business area. The new area will form an independent division at group level from the beginning of 2023, as the Zurich media group wrote on Tuesday in the run-up to an investor day.
The portfolio includes the three printing centers in Zurich, Bern and Bussigny as well as four office buildings in Zurich and Bern at attractive locations. It offers sufficient potential for independent development, the communication continues. Various possibilities for the optimal ownership structure are still being examined.
Meanwhile, TX Ventures is launching its own fintech investment fund. This is designed for a target size of CHF 100 million. With the newly created fund, the venture arm of the group intends to continue diversification.
To this end, the geographical mandate will be extended to Europe with a focus on the DACH region. The new fund’s capital came in part from previous sales by TX Ventures; Olmero, Star Ticket and Moneypark are explicitly mentioned in the notification. Investments are to be made in new FinTech companies.
The TX Group is also planning to publish new margin targets for the three segments Tamedia (paid media), 20 Minuten (free media) and Goldbach (advertising). This should be done by the 2023 annual result. The goals would be based on comparable companies, it is said.
For the fourth segment, TX Markets, in which the marketplaces and classifieds platforms in particular are located, the communication of the target figure is still subject to the approval of the other shareholders due to the shareholding structure at SMG and JobCloud.
(SDA)