The transfer of the previously held still by the year holding shares of 25.1 percent will take place on November 1, the company said on Gütersloher Monday. Then, the shareholders had agreed. The Supervisory Board of Bertelsmann have already approved the transaction. The purchase price did not have both sides. For publisher Gruner + Jahr (G + J) include magazines such as “Star”, “Brigitte” and “Geo”. The publisher also holds a minority stake in the “mirror”.
The full takeover was “a further clear commitment to journalism,” said Bertelsmann CEO Thomas Rabe. Bertelsmann support the reconstruction of the Hamburg-based media house “full” and would continue to provide the resources to make them.
Gruner + Jahr is in Transition
G + J had announced in August, in the next three years to remove about 400 jobs in Germany. Given declining market developments in the print business will be saved in this period, 75 million euros. In Germany at that time were at Bertelsmann 2,400 employees, employs more than 10,000 people worldwide.
The publisher is currently stuck in a structural transformation from traditional magazine publishing towards a digital house of the content. G + J-Board Yulia Jäkel had turned the corner in 2013: After a year of losses, there was again a profit of 81 million euros. However, the operating result declined, as sales of 2.07 billion euros (2012: 2.2 billion euros). REMOVAL
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Rabe said, G + J could able to respond with the new ownership structure more quickly to digital market changes. Cooperation with other Bertelsmann companies could expand, knowledge and resources could be better used.
Winfried Steeger, Director of the Year Holding GmbH stressed, Bertelsmann was “the appropriate owner to G + J in a good to guide future. “
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