Free papers lower Tamedia’s profits

Swiss publisher Tamedia saw turnover increase but profits drop in the first six months of 2008.

The company publishes paid paper Tages Anzeiger (Zurich) and Berner Zeitung, free dailies 20 Minuten/Minutes and News in Switzerland and free daily L’Essentiel in Luxembourg.

Start-up cost of free dailies News (launched in December 2007) and L’Essentiel (October 2007) resulted in higher costs.

Also the expansion of the web portal of 20 Minuten and disappointing results of the Espace Group (Berne) led to a lower profitability. (Persoenlich)

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