BERLIN – German publishing house Axel Springer Verlag announced Thursday that it wants to increase its share in Germany’s No. 2 private web SAT1 to more than 40%.
Springer currently has a 20% stake in the channel, in addition to owning 41.02% of Aktuell Presse-Fernsehen (APF), a group of more than 100 newspaper publishers, which holds another 20% of SAT1. The other major shareholders in SAT1 are the Bavarian-based Kirch Group (43%) and publisher Holtzbrinck’s AV Euromedia (15%).
Springer has offered to buy the shares of some of the other publishers in APF. Springer reported on Thursday that many APF members have agreed to sell their shares.