Europe’s largest newspaper and magazine publisher Axel Springer Verlag is expected to announce today the first loss in its history, say insiders.

Word is that Springer’s figures for the half-year to June 30 could pave the way to a full year loss as high as E10 million ($9.1m) compared with 2001 when it posted a profit of E98m ($89.4m), itself 30% below the group’s 1999 performance.

A Springer spoke declined to comment on the rumor, saying that the group preferred to wait until the figures were released, although it did not deny the report.

News source: Handelsblatt (Germany)