Rebirth of The Krone
In 1959, the journalist and previous editor-in-chief of the Kurier newspaper Hans Dichand bought the rights to the Krone name. He refounded the newspaper as the Neue Kronen Zeitung. This remains the official name, but the newspaper refers to itself as the Kronen Zeitung. First released on 11 April 1959, it soon became Austria's most influential tabloid newspaper, but also the most controversial. At the beginning of the 1960s the journalist Fritz Molden wanted to buy the paper, but, according to Dichand, the Creditanstalt bank would not give him the necessary credit.
The circumstances concerning the purchase of the Kronen by Dichand are shrouded in mystery. The highly influential Social Democratic Party of Austria (SPÖ) politician Franz Olah, then vice-president of the Austrian Trade Union Federation (ÖGB), brought Dichand into contact with the German businessman Ferdinand Karpik, who wanted to buy a share of 50%. Marketing strategist Kurt Falk became Dichand's right hand man, and the Krone developed into one of the most widely-read Austrian newspapers.
In the middle of the 1960s, the ÖGB suddenly raised ownership claims on the Krone. They claimed that the former vice-president Franz Olah misused the trade union's funds for the purchase of the newspaper, using the German investor as a stooge. The newspaper responded with a smear campaign against the SPÖ, which was considered the first successful campaign by the newspaper. A court case followed between the newspaper and the trade union federation which lasted many years. The ÖGB finally settled with an 11 million Schillings compensation deal, and Kurt Falk took over the 50% from Ferdinand Karpik.
Kurt Falk himself left the newspaper after a long fight with Dichand in the 1980s. He sold his shares to the German WAZ media group, which is said to have close connections to the Social Democratic Party of Germany (SPD). In 1989 Hans Mahr, an advisor to Dichand since 1983, took over as manager.
Read more about this topic: Kronen Zeitung
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