Axel Springer Media Group to Split
A New Era for the German Media Giant
Axel Springer, the German media giant, is set to split into two separate companies. The move, which was announced on Tuesday, is intended to create a more focused and efficient organization. The new entities will be known as Axel Springer SE and Springer Nature Group.
Axel Springer SE
Axel Springer SE will focus on the company's core businesses in Germany and Central Europe. This includes newspapers, magazines, and digital media. The company will also continue to operate its international business, which includes newspapers and magazines in Poland, Hungary, and the Czech Republic.
Mathias Döpfner, the current CEO of Axel Springer, will become the CEO of Axel Springer SE. The company will be headquartered in Berlin.
Springer Nature Group
Springer Nature Group will focus on the company's academic and scientific publishing businesses. This includes journals, books, and databases. The company will also continue to operate its educational business, which includes textbooks and online courses.
Derk Haank, the current CFO of Axel Springer, will become the CEO of Springer Nature Group. The company will be headquartered in London.
The split is expected to be completed by the end of the year. The two companies will remain closely linked through a joint venture that will own their respective digital businesses.
The move is seen as a major shake-up for the German media landscape. Axel Springer has been a dominant force in the German media market for decades. The split is likely to lead to increased competition in the market, as well as a more focused and efficient Axel Springer.
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