Axel Springer sells stakes in regional newspapers
Axel Springer sells its holdings in Leipziger Volkszeitung, Lübecker Nachrichten and Kieler Nachrichten as well as its stake in the northern German publishing holding company Hanseatische Verlags-Beteiligung to the Madsack publishing group.
Axel Springer is selling its stakes in Leipziger Volkszeitung (50 percent), Lübecker Nachrichten (49 percent), Kieler Nachrichten (24.5 percent) and its share in the northern German publishing holding company Hanseatische Verlags-Beteiligung (23 percent) to the Madsack publishing group. At the same time, Lübecker Nachrichten is taking over Axel Springer's share in Ostsee-Zeitung in Rostock (50 percent). According to the announcement, the total volume amounts to 310 million euros.
"With the sale of the minority shareholdings, we are concentrating even more consistently on investments in our own newspapers, the multimedia expansion of our brands and acquisitions of new online growth businesses," Mathias Döpfner, CEO of Axel Springer, is quoted as saying in the press release.
"With the sale of the minority shareholdings, we are concentrating even more consistently on investments in our own newspapers, the multimedia expansion of our brands and acquisitions of new online growth businesses," Mathias Döpfner, CEO of Axel Springer, is quoted as saying in the press release.
