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3 items from 2009


Axel Springer puts Turkish deal on hold

27 November 2009 12:00 AM, PST | The Hollywood Reporter - Movie News | See recent The Hollywood Reporter - Movie News news »

Stockholm -- German publishing giant Axel Springer has suspended its deal to buy a 29% stake in Turkish media group Dogan Yayin, due to an unresolved tax dispute between Dogan Yayin and the Turkish government.

The Turkish media giant, which owns national channels TNT, Kanal D and Star TV and is a partner in news network CNN Turk, faces a fine of up to $3.3 billion for unpaid taxes. If imposed, the fine would bankrupt the group.

Dogan Yayin says the tax charges are politically motivated and a reaction to its reporting on a political financing scandal connected to the Akp party of Turkish Prime Minister Recep Tayyip Erdogan.

Springer had planned to pay around $240 million for 29% of Dogan Yayin but pulled out this week, citing the tax issue. A Springer spokeswoman said if the dispute could be resolved, the German company would consider taking a stake again. »

- By Scott Roxborough

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Axel Springer Q3 profits up 10.5%

19 October 2009 5:00 AM, PDT | The Hollywood Reporter - Movie News | See recent The Hollywood Reporter - Movie News news »

Berlin -- Green shoots are starting to show at German media giant Axel Springer, which booked €102.4 million ($153 million) in operating (Ebitda) profits in the third quarter, a 10.5% jump over Q3 2008 according to preliminary figures announced in Berlin Monday.

Sales for the quarter were down slightly, at €622 million ($928 million) against €651 million last year.

Sales and Ebidta for the full nine months were down from €2 billion to €1.88 billion ($2.8 billion) and from €307 million to €265 million ($395 million) respectively.

Springer CEO Mathias Dopfner is still forecasting a net profit for the year but again warned Monday that the company will not reach last year's record highs -- when Springer earned €571 million on sales of €2.7 billion.

Axel Springer shares were down 3.4% to €71 ($106) in late trading Monday. »

- By Scott Roxborough

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German Golden Camera gala to return in 2010

29 September 2009 5:00 AM, PDT | The Hollywood Reporter - Movie News | See recent The Hollywood Reporter - Movie News news »

Cologne, Germany -- The crisis is officially over and its time to party. That was the message Tuesday from German publishing giant Axel Springer, which announced it would again hold its VIP gala the Golden Cameras in Berlin next year. Springer cancelled this year's Golden Camera event -- Germany's splashiest and highest profile TV prize gala -- citing the economic downturn.

The 2010 Golden Cameras will be held Jan. 30. That's earlier than usual. In the past few years, Springer has set the Golden Cameras on the eve of the Berlin International Film Festival, which will be held Feb.11-21, 2010.

German TV stars Bastian Pastewka and Jan Josef Liefers will host the 2010 event, which will be broadcast live on public network Zdf. »

- By Scott Roxborough

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3 items from 2009


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