Axel Springer SE has acquired N24 Media GmbH, the 24 hour news channel. The N24 Group employs around 300 staff working including at its subsidiaries N24 and MAZ&More. N24 also produces the main news bulletins for SAT.1, ProSieben and kabel eins. The terms of the deal were not disclosed.
Axel Springer plans to combine N24 and the Welt group, which publishes a daily broadsheet Die Welt. According to Axel Springer, “N24 becomes the central moving image provider for all Axel Springer brands”.
The editorial team of WELT Group is extended to include the N24 digital editorial team. The joint WELT Group/N24 editorial team will in future produce both brands’ journalistic content for all the digital channels, as well as for the WELT Group’s print products. N24 also has a TV and program editorial team. The result is one of the largest multimedia editorial teams in Germany.
The management will be Jan Bayer, 43, President of WELT Group and Printing of Axel Springer, Torsten Rossmann, 50, Chairman of the N24 management board, and Stephanie Caspar, 40, Managing Director of WELT Group.
Jan-Eric Peters, 48, editor-in-chief of WELT Group, will be responsible for all content of the WELT Group and their joint digital services. Arne Teetz, 46, editor-in-chief of N24, will be responsible for all moving image content.
Stefan Aust, 67, previously a shareholder of N24, becomes publisher of the Group from 1 January 2014. Thomas Schmid, 68, will also remain publisher of the WELT Group until 30 June 2014.
Jan Bayer said, “N24 and the WELT Group complement each other perfectly and together represent the multimedia spectrum of journalism. N24 benefits through this partnership from the editorial quality and digital expertise of WELT Group. Axel Springer and WELT Group gain access to the moving image and live news competence of N24.”
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