DDP to take over AP Germany as early as October
The news agency market in Germany may be undergoing a shakeup sooner than expected: The Berlin-based news agency DDP is on the verge of acquiring its rival, Associated Press (AP) Germany.
In Germany, a reorganization of the news agency market may take place sooner than expected: The Berlin news agency DDP is about to purchase its rival Associated Press (AP) Germany, as reported by SDA on Friday.
DDP co-owner Martin Vorderwülbecke said on Friday that he wanted to take over 100 percent of the agency and keep it largely as it was. The talks are at a very advanced stage, even though no contracts have been signed yet. It is only a matter of contract details. He no longer expects the talks on the purchase of the US agency's German subsidiary to fail. He expects a deal to be concluded in October. The manager did not want to give any details on the purchase price.
No final agreement reached yet
AP headquarters in New York confirmed negotiations, but emphasized that no final agreement had yet been reached. The talks are about DDP's entry into AP Germany and a long-term agreement on the
Exchange of content, an AP spokesperson said.
The agreement is likely to be very important for DDP in order to gain access to AP's worldwide network of correspondents. The Americans have a good 240 offices in almost 10 countries. If both parties come to an agreement, DDP could have access to the English-language AP news from all over the world.
DDP co-owner Martin Vorderwülbecke said on Friday that he wanted to take over 100 percent of the agency and keep it largely as it was. The talks are at a very advanced stage, even though no contracts have been signed yet. It is only a matter of contract details. He no longer expects the talks on the purchase of the US agency's German subsidiary to fail. He expects a deal to be concluded in October. The manager did not want to give any details on the purchase price.
No final agreement reached yet
AP headquarters in New York confirmed negotiations, but emphasized that no final agreement had yet been reached. The talks are about DDP's entry into AP Germany and a long-term agreement on the
Exchange of content, an AP spokesperson said.
The agreement is likely to be very important for DDP in order to gain access to AP's worldwide network of correspondents. The Americans have a good 240 offices in almost 10 countries. If both parties come to an agreement, DDP could have access to the English-language AP news from all over the world.
