Business News

Axel Springer Financial Media: Management Buy-Out of business and financial titles

Monday 24. May 2010 - Previous managing director Frank B. Werner takes over EURO and EURO am SONNTAG

The Axel Springer AG has sold the business and financial journals published by its Munich subsidiary Axel Springer Financial Media in a management buy-out. The print brands EURO and EURO am SONNTAG have been acquired and will continue to be run by the previous managing director Frank B. Werner with a Swiss investment company.

Dr. Andreas Wiele, Management Board Member and Head of BILD Division and Magazines: “I am pleased that we have found a reliable and responsible buyer in Frank B. Werner, who can offer a long-term perspective for our business publications and the staff at the Munich site. I would like to express my sincere thanks to him for our good cooperation in recent years and wish him all the best and success for the future.”

As part of its concentration on the activities in its core business and wide-ranging media products, Axel Springer has also sold its holdings in wallstreet:online AG and wallstreet:online capital AG as well as ZertifikateJournal AG to the previous management and the remaining shareholders. In the online business media sector, Axel Springer will be concentrating in future on finanzen.net, its far-reaching financial platform.