Bertelsmann, Jahr Holding to continue to jointly develop Europe's largest magazine publishing house, with proportion of shares in Gruner + Jahr to remain unchanged
GUTERSLOH, Germany, and HAMBURG, Germany
October 19, 2012
– Bertelsmann remains focused on quality journalism
Digitization of content and brands to be further advanced
Over the course of their discussions on the future direction of Gruner + Jahr, Bertelsmann and the Jahr holding have arrived at a mutual agreement that they will continue to jointly develop Europe's largest magazine publishing house going forward. The proportion of shares in the Gruner + Jahr AG & Co KG will remain unchanged.
Thomas Rabe, Bertelsmann's CEO, said: “Bertelsmann will continue its over 40 years of successful cooperation with the Jahr family. We will expand G+J’s strong position in the media business, promote the digitization of its content and brands, and provide the necessary resources. Bertelsmann remains committed to quality journalism as a core business.”
Winfried Steeger, Managing Director of Jahr Holding GmbH & Co. KG, says: “In our intensive and constructive talks with Bertelsmann, we came to the conclusion that the challenges ahead for G+J can best be mastered together. Both partners have known the publishing house for a long time, trust each other, and will lead G+J into a good and successful future.”
Bertelsmann is an international media company whose core divisions encompass television (RTL Group), book publishing (Random House), magazine publishing (Gruner + Jahr), and outsourcing services (Arvato) in 50 countries. In 2011, the company’s businesses, with their 100,000 employees, generated revenues of €15.3 billion. Bertelsmann stands for a distinctive combination of creativity and entrepreneurship that empowers the creation of first-rate media, communications, and service offerings to inspire people around the world and to provide innovative solutions for customers.