Hamburg, 29 January 2008 – Growth spurt for G+J Germany / Synergies through integration in G+J Business Publications / Editorial independence untouched
The British media group Pearson Plc. has decided to sell its 50-percent stake in the FINANCIAL TIMES DEUTSCHLAND (FTD) to Gruner+Jahr AG retroactively to January 1, 2008. The parties have agreed to keep the purchase price confidential. The move turns G+J into the sole owner of FTD. Further to the transaction, a long-term licensing contract was signed with the Financial Times Group governing the brand use rights as well as editorial cooperation with the "Financial Times". The share purchase is subject to approval by the antitrust authorities.
The FTD has been grouped into the Business Publications group at G+J Germany, adding a high-circulation business daily to a premium media group that publishes the monthly magazines CAPITAL and IMPULSE, the weekly investor's magazine BÖRSE ONLINE and the weekly financial publication CAPITAL INVESTOR, along with their online and mobile homepages.
The unit's publishing activities will be centered in Hamburg from now on. The noneditorial departments in Cologne with their ca. 20 employees will be moved to Hamburg. The CAPITAL and IMPULSE editorial offices will remain in Cologne, and the BÖRSE ONLINE editorial team will remain in Munich.
Christoph Rüth will continue as Managing Director of the FTD. In addition, he will serve as Deputy Publishing Director of G+J Business Publications, reporting to the unit's Publishing Director Ingrid M. Haas. Mario Suchert, currently Director AdSales at the FTD, has been appointed the new Director AdSales, G+J Business Publications.
Dr. Bernd Buchholz, Member of the G+J Executive Board and President of G+J Germany, commented: "The addition of the FTD creates a Business Publications unit that is even more forceful and growth-oriented. The daily information provided by the FINANCIAL TIMES DEUTSCHLAND represents an important and high-quality contribution, especially to the extension of G+J's Business Publications into the digital and virtual realms. The central management of this publishing group, and especially the centralized ad sales for the business titles, give rise to new growth spurts and options for cultivating the market for G+J Germany. The move emphasizes G+J's commitment to enhancing its market position in business publishing. I am delighted to welcome the FTD as part of the G+J Germany portfolio and wish Ingrid Haas and her team the best of luck and success."
Ingrid M. Haas said: "The FTD has successfully established itself as a high-quality brand among German daily papers. Its integration boosts G+J Business Publications to the top of the business segment in Germany. Our magazines, daily business paper, newsletters, and the online and mobile offerings of all our brands put us in an outstanding journalistic position. The FTD adds new vitality to G+J Business Publications' multimedia approach. This opens up unprecedented marketing options and opportunities for us. It goes without saying that the brands will remain editorially independent. I greatly look forward to this exciting new task in cooperation with Christoph Rüth and the two Executive Publishers Matthias Großmann and Jan Honsel."
Vice President, Media Relations