Springer’s Cost-Cutting Sees Merger of Two German Dailies

07 December 2001

Eager to cut costs, Germany’s Axel Springer Verlag, the largest newspaper publisher in Europe, is to merge two of its biggest dailies – Berlin’s Berliner Morgenpost and Die Welt, the flagship national title.

Although the two will remain separate publications, their management will be combined and they will use each other’s editorial content.

The plan was announced by newspaper and multimedia boss Mathias Doepfner, who takes up the reins as chief executive in January.

Other cost-cutting measures include the axing of 10% of the company’s staff in the next couple of years and the closure of the Bavarian version of Die Welt, marking a move away from Springer’s tactics of publishing local editions to bolster its presence.

In addition, Doepfner intends to make up for the drop in ad revenue at Springer’s online newspaper properties by charging for their use.

News source: Handelsblatt (Germany)