Axel Springer SE acquires 100 percent of N24 Media GmbH. As part of the acquisition of the news station, there are plans to combine N24 and the WELT Group in order to establish the leading multimedia news company for quality journalism in the German-speaking countries. At the same time, N24 becomes the central moving image provider for all Axel Springer brands.
The editorial team of WELT Group is extended to include the N24 digital editorial team. The new joint editorial team will in future produce both brands' journalistic content for all the digital channels, as well as for the WELT Group's print products. In addition to this, N24 has its TV and program editorial team, which produces all the TV formats and moving images for the digital offers. Both these units cooperate closely on content. The result is one of the largest multimedia editorial teams in Germany.
The management is in the hands of Jan Bayer, 43, President of WELT Group and Printing of Axel Springer, Torsten Rossmann, 50, Chairman of the N24 management board, and Stephanie Caspar, 40, Managing Director of WELT Group.
Jan-Eric Peters, 48, editor-in-chief of WELT Group, is responsible for all content of the WELT Group and their joint digital services. Arne Teetz, 46, editor-in-chief of N24, is responsible for all moving image content.
Stefan Aust, 67, previously a shareholder of N24, becomes publisher of the Group from 1 January 2014. Thomas Schmid, 68, will also remain publisher of the WELT Group until 30 June 2014. He is already developing a new kind of online magazine for Axel Springer which is planned to be launched in spring next year.
Jan Bayer: "N24 and the WELT Group complement each other perfectly and together represent the multimedia spectrum of journalism. N24 benefits through this partnership from the editorial quality and digital expertise of WELT Group. Axel Springer and WELT Group gain access to the moving image and live news competence of N24."
Torsten Rossmann: "In the last three and a half years, we have further developed N24 successfully, expanded our market leadership in news television and laid the foundations for a strong presence of the brand online, mobile and on outdoor screens. For the next step, and for a sustainable future, we need a strong partner that is a good fit for N24. In Axel Springer and its clear commitment to journalism and digitization, we have found that partner. I am looking forward to working with our new colleagues to shape the digital future of journalism."
The N24 Group is Germany's largest independent producer of information. Around 300 employees work for the N24 Group and its subsidiaries N24 and MAZ&More. With N24, the group of companies operates the market leader among the German news broadcasters. N24 also produces the main news bulletins for SAT.1, ProSieben and kabel eins. The weekday program "SAT.1 Frühstücksfernsehen" ("SAT.1 Breakfast TV") is produced by MAZ&More.
The purchase price was not disclosed. The transaction is subject to approval by the Cartel and Media Offices.
Source: Axel Springer SE