The parent company Bertelsmann has received the first offers for its sales plans for numerous magazines from the Hamburg publishing house Gruner Jahr.
Group CEO Thomas Rabe told the German Press Agency: "The sales process has started. We received the first offers this week." Rabe added: "We are now reviewing these offers and then approaching the bidders. I am confident that we will essentially complete the sales process by the summer."
In February, the media group RTL Germany, which had taken over the magazine division of G J in 2022, announced the end of more than 20 magazines after a portfolio review. In addition, several magazines are to be sold. A total of around 700 of the 1900 jobs would be lost. RTL wants to concentrate on core brands such as "Stern" or "Geo" and invest in digital there. RTL hopes for synergies between the two houses. G J and RTL are part of the Bertelsmann portfolio in Gütersloh.
CEO Rabe said: "We signed the social plan this week. We have agreed with the works councils on the conditions." According to Rabe, there was a works meeting on the same day.
In the coming weeks, they want to discuss the timetable with the works council and work out the investment plans in detail for the planned title discontinuations. "Then it will become increasingly clear in which direction the journey is going," said Rabe.