joint venture is called Ringier Axel Springer Media AG. Axel Springer AG paid a contribution in cash of around EUR 50 million and paid EUR 125 million to compensate Ringier. The purpose of the joint venture is to combine all activities in Eastern Europe of the two companies inside one holding. Axel Springer AG brought the business of its subsidiaries in Poland, Czech Republic and Hungary, while Ringier brought its business in Serbia, Slovakia, Czech Republic and Hungary. Ringier and Axel Springer together own over 100 print titles (34 newspapers, 73 magazines) and more than 70 online platforms and established themselves as one of the biggest media companies in the Eastern Europe market (March 2010). Overall the joint venture is the market leader in tabloids and one of the largest provider of magazines. Mark Dekan is currently the CEO of Ringier Axel Springer Media AG. Chairman of the board is Ralph Büchi, President of Axel Springer International. In 2002, it was rumoured that Axel Springer AG was planning an acquisition of Ringier AG. In July 2007, Springer acquired the German TV programme guides TELE, TV4 and TV2 from Ringier through the subsidiary company Jean Frey AG. Joint Venture with Axel Springer in Switzerland On 1 January 2016, the Swiss joint venture Ringier Axel Springer Schweiz AG was founded together with Axel Springer. The media company's remit includes both companies’ entire magazine portfolios in Switzerland as well as the Le Temps and Handelszeitung newspapers. It employs around 600 people and is located in Zurich. Ringier Deutschland GmbH The two premium titles Cicero and Monopol have changed hands: Cicero Editor-in-Chief Christoph Schwennicke and Deputy Editor-in-Chief Alexander Marguier took over the two high-end products on 1 May 2016, as part of a management buyout. Admeira On 4 April 2016, the joint sales and marketing organisation from Ringier, Swisscom and Swiss Broadcasting Corporation began operations under the name Admeira. The project was first launched on 17 August 2015, and Marc Walder was among its initiators. The venture's objective of keeping more digital advertising funds in Switzerland was met with criticism from competitors. The goals of this joint operation were not met. After the Swiss Broadcasting Corporation had already left this venture, Swisscom decided to leave as well, selling their interest in Admeira to Ringier. Therefore, Admeira became a wholly owned subsidiary of Ringier in 2020 concentrating on TV advertising. La Mobilière On 3 February