Founding families acquire G+J’s shares in Motor Presse Stuttgart

Hamburg/Stuttgart, 3. June 2019 – Change of ownership at the special-interest publisher Motor Presse Stuttgart: Members of the founding family Pietsch – Dr. Patricia Scholten and Peter-Paul Pietsch – have acquired the 59.9 percent stake previously held by the Hamburg-based publishing house Gruner + Jahr. The agreement is subject to the approval of the Austrian competition authority. Motor Presse Stuttgart publishes specialist magazines on themes such as automobiles, motorbikes, sports, and leisure.

Oliver Radtke, G+J Chief Operating Officer: “This is another step forward in the transformation of Gruner + Jahr. Our goal is to become the most creative and innovative publisher in Germany and France, marketing popular brands—in both print and digital form—via Ad Alliance. Furthermore, as a member of the Bertelsmann Content Alliance, we are channeling our energies into shaping the development of new business models and projects in the German-speaking publishing and entertainment market.

In our frank yet friendly discussions, we and the founding families agreed that, with its diverse range of special-interest media, Motor Presse Stuttgart faces a unique set of challenges, some of which are very different from the challenges Gruner + Jahr faces. We were therefore pleased that the Pietsch/Scholten family was prepared to acquire our shares. We wish all our colleagues at Motor Presse Stuttgart every success for the future. We remain on friendly terms with Motor Presse Stuttgart, and we will continue to cooperate closely at editorial and management levels.”

Peter-Paul Pietsch: “As the children of the founders, we feel a special sense of responsibility for Motor Presse Stuttgart. There was therefore no doubt in our minds that we would continue what has been built over the past few decades. We remain fully committed to Motor Presse Stuttgart going forward and are determined to write many more chapters in the wonderful history of our families.”

Dr. Patricia Scholten: “We are extremely grateful to Gruner + Jahr for the constructive and open negotiations, which will enable us to do just that. We will stay in close contact and partner with G+J whenever we can.”

As part of these changes, the CEO, Nils Oberschelp, will leave the company. In summer 2017, Mr. Oberschelp, who had previously served as CEO of DPV Deutscher Pressevertrieb for several years, moved from Gruner + Jahr to Motor Presse Stuttgart.

Dr. Patricia Scholten: “We wish to express our warmest thanks to Nils Oberschelp for his extremely innovative and hands-on contribution to Motor Presse Stuttgart. We also appreciate his understanding for the fact that, in view of the current situation, we would like a fresh start at the top of our management team. We wish Mr. Oberschelp all the best for his personal and professional future.”

Motor Presse Stuttgart will announce the name of the new CEO soon.