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Business News Media
New German media player acquires Musicwoche
By Andy Malt | Published on Wednesday 4 June 2014
German media company Busch Business Media, which launched in January this year, has expanded its roster of publications dramatically with the purchase of Gruner + Jahr Entertainment Media, a subsidiary since 2007 of media powerhouse G+J, which is owned by BMG parent Bertelsmann.
According to Billboard, the deal to buy the G+J business will come into effect on 1 Jul, and is rumoured to be worth single digit million euros. Amongst the titles BBM will gain ownership of is music business magazine Musicwoche.
BBM founder Timo Busch said that for the time being all the publications that come under the deal would continue to operate as normal, telling Billboard: “We want to further extend the established brands with the highly experienced and expert team, and we feel a commitment to the long-standing tradition of these publications”.
Other print and online media in the deal include Blickpunkt Film, Videomarkt, Gamesmarkt, mediabiz, Treffpunkt Kino and Kino.de