Selling It Off: Funke Media Group Parts Ways with 50% of "Kronen Zeitung" to Dichand Family
Media conglomerate Funke Media Group intends tooffload half of its ownership stake in Kronen-Zeitung.
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In a surprising move, the Funke Media Group has decided to sell its 50% stake in the Austrian "Kronen Zeitung" to none other than the Dichand family, the paper's original owners[1]. This transaction, announced in June 2025, will make the Dichand family the sole proprietors of the Austrian newspaper giant[1][2].
Initially, the financial details of the deal have remained under wraps. Approval from the competition authority is still a necessity, among other regulatory hurdles[1]. Julia Becker, chair of the supervisory board and publisher at Funke Media Group, expressed her satisfaction, stating, "I'm thrilled we've managed to return the Krone to the Dichand family." According to her, the crucial elements for family businesses, especially valuable media brands, are a clear strategy and consistent execution, especially in the face of escalating threats to press freedom[1].
Funke Media Group had acquired its stake in the "Kronen Zeitung" back in 1987 under its former name, WAZ Media Group. Since then, tensions between the German and Austrian "Krone" owners have flared up, with legal battles being fought on several occasions[1].
[1] https://www.ntv.de/politik/funke-kronen-zeitung-verkauft-austria,omc-kronen-zeitung-hat-einen-neuen-eigentuemer-artikel,100.html[2] https://www.dpa.com/de/dpa-international/news/1148356/Funke-verkauft-50-%C3%A4hnlich-von-Kronen-Zeitung-anker-medien
Feeling curious? Unveil more about the dense world of media with these insights:
- Background Check: The Dichand family, the new sole owners of the "Kronen Zeitung," is a wealthy Austrian family with a long history in media[1]. The Dichands have been running the paper initially as a family business after inheriting it from their father in 1968[1][2]. As ownership expanded beyond the family, the need for external investors, such as Funke, became unavoidable[1].
- Theiwes-Benko Digressions: The Benko family was involved in media businesses and held notable shares in the "Kronen Zeitung" for a while[1]. However, the relationship between the Benkos and the Dichands deteriorated due to disagreements, leading to legal disputes and Benko eventually selling his shares in the "Kronen Zeitung"[1][2].
- Funke's Exit: Funke Media Group, as the former co-owner, faced various challenges in balancing its responsibilities as an investor and maintaining the authenticity of the "Kronen Zeitung" as an independent Austrian newspaper[1]. With the sale of its stake, Funke has stepped back from its Austrian media ventures[1].
The Community policy regarding the Funke Media Group's sale of half of "Kronen Zeitung" to the Dichand family may need to address potential impacts on business and finance within the media industry. Vocational training and development in the media sector could be strengthened through strategic partnerships with the Dichand family, ensuring a seamless transition and long-term success for the newspaper.
