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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. » Plus sur finanzen.net
Christoph Eck‑Schmidt to become head of the Bild group at Axel Springer

Christoph Eck‑Schmidt will assume overall strategic and operational responsibility for the Bild group on August 1, succeeding Carolin Hulshoff Pol. Hulshoff Pol is moving within the group to the UK to lead the Telegraph Media Group. Eck‑Schmidt is relinquishing his current roles as Axel Springer’s head of distribution and marketing and as CEO of the digital subsidiary Bonial, and intends to further develop digital products and business models while strengthening Bild’s market leadership in advertising. » Plus sur wiwo.de
Axel Springer completes takeover of the Telegraph

Axel Springer has completed the acquisition of the Telegraph Media Group after receiving all required regulatory approvals in the UK, Ireland and Austria. The group is paying £575 million (€661 million) to the previous owner RedBird IMI. Springer plans to drive the Telegraph Group’s expansion into the US market, leveraging brands such as Politico and Business Insider. » Plus sur de.investing.com