Editorial by the 
Chairman

Dr Pietro Supino

Chairman of the Board of Directors & Publisher

Dear Shareholders
Dear Business Partners
Dear Colleagues

The performance of the TX Group in the first half of 2026 was encouraging. In light of the ongoing changes in the media world, we need to keep up the momentum and continue to invest in the transformation and expansion of our business.

Particularly pleasing were the developments of SMG on the one hand, and 20 Minuten as well as Goldbach Neo on the other. Tamedia and Goldbach Media are starting from a good position, but also face major challenges. The foundations for the reorganisation of the two companies will be laid in the coming months.

We discuss the individual activities and holdings in more detail in the Half-Year Report. On behalf of the Board of Directors, I would like to take this opportunity to thank our shareholders and partners, as well as our employees and management, for their trust and for the great dedication that has driven this positive development.

Following the departure of COO Tanja zu Waldeck, who is leaving the group for personal reasons, we will streamline the organisation. During her tenure there was positive development in the media sector and she took the lead in the decentralisation of the group, which is now complete. I would like to extend my sincere thanks for the successful collaboration and wish her all the best for the future.

On 1 September, Daniel Mönch will take over Group-level responsibility for Goldbach activities and the remaining central Group Services. The CEOs of Tamedia and 20 Minuten will once again report directly to the Board of Directors. This reflects the special importance of journalism. The Group’s Chief Financial Officer, Wolf Benkendorff will likewise report directly to the Board of Directors.

All this means we are very well positioned, on the right track and able to look to the future with confidence.

Dr Pietro Supino

Chairman of the Board of Directors & Publisher