FUNKE MEDIENGRUPPE is to acquire Axel Springer AG’s regional newspapers as well as its TV program guides and women’s magazines. In the fiscal year 2012 Axel Springer’s regional newspapers, TV program guides and women’s magazines businesses made €94.8 million in EBITDA and €512.4 million in revenues. The purchase price is €920 million.
The two companies have also agreed to establish joint ventures for the marketing and distribution of print and digital media. In both joint venture companies, Axel Springer will have the majority interest.
Thomas Ziegler, Managing Director of FUNKE MEDIENGRUPPE: “We have to join forces – because the media market presents challenging tasks: Therefore, we are looking forward to work closely with Axel Springer AG in marketing and distribution within the framework of the joint ventures and we appreciate that selected print titles of Axel Springer will join our activities. New opportunities are emerging for our business: This applies to the print as well as to the online segment. Hereby, we gain an enormous potential for new developments, for example for the intelligent connection of both fields. Together with the colleagues which will join us, we will build a national media company. FUNKE MEDIENGRUPPE will stand for print media and online media, successful regional newspapers and successful magazines, journalistic quality and economic success.”
Mathias Döpfner, Chief Executive Officer Axel Springer AG: “The decision to divest some of our brands with the longest tradition in our company was not easy. However, we are sure that the grouping under the FUNKE MEDIENGRUPPE, which aims at focusing on regional print- and online-journalism and on magazines, provides the best long-term perspective for the brands and for the staff. The different strategies of both companies complement each other perfectly. Axel Springer AG will continue to follow the strategic direction to become the leading digital media group with a clear focus on the BILD- and WELT-groups, in which we will invest and further develop journalistically and which will remain the core business of Axel Springer in the very long term.”
The transaction is subject to approval under merger control and antitrust law, which is not expected to be obtained before the end of 2013.
Germany, Essen, North Rhine-Westphalia and Berlin
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