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Axel Springer would have participated in a European TikTok model
Axel Springer says the company would have been willing to take part in a European solution for TikTok. CEO Mathias Döpfner publicly promoted a European model and reportedly suggested to a US ambassador that Springer join the European TikTok business. Döpfner has for years demanded that TikTok in democracies be sold to democratic shareholders or banned; the development follows international efforts to create new ownership structures for ByteDance. » Mere på finanzen.net
Axel Springer plans 50–100 editorial job cuts at the Telegraph
Axel Springer is preparing proposals to cut between 50 and 100 newsroom roles at the Telegraph despite earlier promises to invest in the title. Consultants reviewing the Telegraph’s finances have recommended editorial redundancies alongside new commercial side projects such as price-comparison and healthcare sites. The move has sparked confusion among staff given the buyer’s stated intent to grow the paper and expand its US operation; no redundancies have yet been announced. » Mere på theguardian.com
Axel Springer increases revenue and adjusted EBIT significantly and pins Telegraph on US growth
Axel Springer reports a pro-forma revenue increase of 4.5% to 1.1 billion euros in the first half (currency-adjusted +6%) and adjusted EBIT that rose by almost 52% to 125.8 million euros. The Telegraph Media Group, acquired at the end of June, is not yet included in the figures. Springer announces cost discipline and personnel cuts in the premium group and intends to expand the Telegraph, especially in the US, as a moderately conservative offering that appeals to the political centre. » Mere på finanzen.net
