Bild Publisher Reaps $1.2B In Sale Of Top Regional Pubs

Law360, New York (July 25, 2013, 12:15 PM EDT) -- Axel Springer AG, the publisher behind top-selling European newspaper Bild, will pass off some of Germany's best-known regional and niche publications in a €920 million ($1.2 billion) sale to Funke Mediengruppe that frees it up to focus more on digital content.

In the transaction, Axel Springer will unload popular newspapers Berline Morgenpost and Hamburger Abendblatt, plus a handful of TV program guides and a pair of women's magazines — assets that, combined, accounted for roughly 15 percent of the group's revenue for last year. The companies,...
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