« BV Capital Offers Open Office Hours In Hamburg | Main | British Online Recruiter Acquires Germany's Refline »
May 30, 2006
Burda To Spend On Internet Acquisitions
Burda, the German publisher, said today that it is considering acquisitions up to a value of €500M in an effort to double its sales in the digital media/Internet markets, according to a report by German press agency dpa with quotes from executive Jürgen Todenhöfer (pictured here).
The publisher of popular magazines titles such as Focus, Bunte, and InStyle, wants to double its sales via the Internet by 2007 after turnover in that segment grew by 36 percent last year to €174M.
The firm's execs said acquisitions from €50M up to €500M are being considered. It is looking intensively abroad.
Burda already has shares in Abebooks (online bookseller), Onvista (financial portal), and Elitepartners (online dating), in addition to several online portals and ad networks in Germany.
Here's a quote from its press announcements today that will lead to flights of fantasy among startups and VC looking to sell out to a larger buyer.
The digital revolution will continue to change the media mix in favour of digital media. Hubert Burda Media does not see this development as a threat, but rather as an opportunity. The sales and profitperformance contribution of the digital sector will continue to increase.
Read - Burda setzt auf Internet (dpa)
Posted on May 30, 2006 03:08 PM | Posted to News And Updates | Permalink
Trackback Pings
TrackBack URL for this entry:
http://www.thealarmclock.com/mt/mt-tb.cgi/1254
