Basel media group sold

The Basler Zeitung media group (BZM) is being sold by its owners the Hagemann family and PubliGroupe to a pair of private investors, the group announced on Monday.

The new owners of the Basel-based publisher are Ticino financier Tito Tettamani, who is buying 75 percent of the group, and Martin Wagner, a Basel lawyer, who is acquiring the other 25 percent.

The group includes 14 different companies, including one that publishes Basle’s leading daily newspaper.

The Basler Zeitung has a circulation of 88,000.

BZM employs 1,200 people and recorded turnover of 263 million francs in 2008-09.