Swiss telecommunications company Swisscom has secured full control of media and cinema company Cinetrade, a major player in the Swiss sports rights market through its pay-television broadcaster Teleclub.
Although Swisscom has not formally confirmed the deal, it has been reported in multiple media outlets. Swisscom previously held a 75 per cent stake in Cinetrade and spokesman Christian Neuhaus told Swiss newspaper 24 heures that the company has now acquired the remaining 25 per cent interest.
The shares were acquired 10 days ago, Neuhaus told 24 heures yesterday (Sunday). The shares have been purchased from Cinetrade founder Stephan Sager, who will remain as a consultant to the company with chief executive Wilfried Heinzelmann also retaining his position.
Teleclub’s last major rights deal came in June. The broadcaster acquired rights for the Uefa Champions League and Europa League European club football competitions. The rights will cover three seasons, from 2018-19 to 2020-21.