NZZ Divests Zurich Film Festival via Management Buyout
Deal News | Aug 05, 2025 | Legal Community Swiss
Following a decade under the ownership of Neue Zürcher Zeitung (NZZ), the Zurich Film Festival (ZFF) is being divested in a management buyout led by festival director Christian Jungen. The buyout, set to finalize in July 2025, represents a strategic shift for NZZ, allowing the festival director and a new consortium of investors to take control of ZFF's future direction. Concurrently, NZZ has sold its Frame Cinema operations to Swiss cinema company Kinokoni, marking another significant realignment in its entertainment portfolio. Both divestiture transactions underscore NZZ's intent to recalibrate its investments in the cultural sector. The legal advising role for these transactions was led by Homburger, with partner Anna Peter supervising the team, which included corporate/M&A specialists Simone Schmid and tax expert Laetitia Fracheboud.
Sectors
- Media and Entertainment
- Legal Services
Geography
- Switzerland – The entirety of the transaction, including the companies and the legal advisory firm, is based in Switzerland.
Industry
- Media and Entertainment – The article involves the divestment of a film festival and a cinema chain, which are part of the media and entertainment sectors.
- Legal Services – Homburger's role as the legal advisor in the divestment process highlights the involvement of legal services in M&A activity.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Neue Zürcher Zeitung (NZZ) | Selling Company | Company | NZZ is divesting its ownership of the Zurich Film Festival and Frame Cinema. |
| Zurich Film Festival (ZFF) | Target Company | Company | ZFF is the film festival being sold in a management buyout. |
| Kinokoni | Buyer | Company | Swiss cinema company acquiring NZZ's Frame Cinema. |
| Homburger | Legal Advisor | Company | Legal firm advising NZZ on the divestment transactions. |
| Christian Jungen | Leader of Buying Group | Person | Festival director of ZFF part of the new group acquiring ZFF. |
| Anna Peter | Lead on Legal Team | Person | Partner at Homburger leading the legal team advising on the divestments. |
| Simone Schmid | Corporate/M&A Specialist | Person | Part of the Homburger team focusing on corporate/M&A aspects. |
| Laetitia Fracheboud | Tax Specialist | Person | Part of the Homburger team focusing on tax aspects. |