Burda takes over own media brands from digital subsidiary
The German media group Burda is restructuring its online media business, thereby integrating its key online media brands more closely into the company. The publisher's digital division is taking over the entire "publishing" business from its internet subsidiary, Tomorrow Focus.
The news portal "Focus Online", the German edition of the Huffington Post and the finance portal Finanzen100, among others, are currently under its umbrella, as the company announced on Friday. Burda will take over all 200 employees, the portals and sites will be retained and will continue to operate independently, it said. The transaction is to be completed in
The transaction will be completed in the second quarter. Burda holds less than 60 percent of Tomorrow Focus and was previously only the majority shareholder in the business. The purchase will cost Burda a good 30 million euros. The plans had been the subject of speculation in the media industry for some time. (SDA)
