Hearst Netherlands to take over Gruner + Jahr Media Netherlands
On 17 October Hearst Netherlands reached an agreement to take over the Dutch branch of Gruner + Jahr Media, Steven R. Swartz, President and CEO and David Carey, President of Hearst Magazines announced.
The deal is subject to approval by G + J Media’ works council and the Netherlands Competition Authority, and is expected to be finalized by the end of this year. The terms have not been disclosed.
Gruner + Jahr media Netherlands publishes print and digital editions of brands such as Glamour, Vogue, Jan, National Geographic and Quest, as well as Custom Content (Holland Herald for KLM airlines) and Designer Vintage. With the takeover, these brands and all other activities will become part of Hearst Magazines and published by Hearst Netherlands, which publishes brands such as Cosmopolitan, Elle, Esquire and Harper’s Bazaar and reaches 5.5 million readers.
David Carey, President Hearst Magazines said: “We focus on innovation and growth through both autonomous investments and acquisitions, and we welcome the respectable brands that Gruner + Jahr has established and cherished in the Netherlands.... We are significantly strengthening our European and global offer [with this takeover].”
“With Hearst we found a buyer who believes in both print and digital media. We are convinced that Hearst will continue to develop the company successfully and that our Dutch activities are in good, responsible hands,” said Julia Jäkel, CEO Gruner + Jahr Media in a press release.
According to Dutch newspaper Het Financieele Dagblad Gruner + Jahr Media Netherlands has been available for purchase since last year. The parent company wanted to focus more on digital activities, writes the newspaper. Gruner + Jahr Media is based in Hamburg, Germany and part of Bertelsmann group. The German group is a media, services and education company, and operates in 50 countries around the globe. Its portfolio includes broadcaster RTL Group, publisher Penguin Random House and music company BMG, to name a few.
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