Business News

Axel Springer sells its stake in CORA Verlag

Thursday 22. April 2010 - Axel Springer AG has sold its 50 percent stake in the Hamburg-based publisher CORA Verlag to the former joint venture partner Harlequin Enterprises. This subsidiary of the Canadian media group Torstar will now hold all the equity in CORA, one of the leading German publishers of romance literature.

Dr. Andreas Wiele, Management Board Member and Head of BILD Division and Magazines of Axel Springer AG: “The sale of our investment in CORA will enable us to focus more effectively on our core business in the print media and on our digital and international growth activities. We wish to thank Harlequin, our partner for many years, and the employees of CORA for their constructive and successful collaboration.”