Axel Springer Splits Up: Who Will Soon Own "Bild" and "Welt"?
Billionaire Mathias Döpfner to Lead New Company
German media giant Axel Springer is reportedly planning to split into two separate companies, with one company led by billionaire Mathias Döpfner.
Döpfner, who is currently the CEO of Axel Springer, would lead the new company that would include the company's flagship tabloid "Bild" and its conservative broadsheet "Die Welt."
The other company would include Axel Springer's international activities, including its stake in the American news website Politico.
Split to Allow for Focus on Digital Growth
The split is reportedly being driven by the need to focus on digital growth. "Bild" and "Welt" are both facing challenges from online competitors, and the new company would allow them to invest more heavily in digital initiatives.
The international activities, on the other hand, are more stable and profitable. The new company would allow them to continue to grow without having to worry about the challenges facing the German media market.
Split Expected to Be Completed in 2023
The split is expected to be completed in early 2023. The new company would be listed on the stock exchange, and Döpfner would become its CEO.
The split is a major development for the German media landscape. Axel Springer is one of the largest media companies in the country, and the split will create two new major players in the market.
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