The Bookseller.com

13th October 2008

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Weltbild future remains uncertain

10.07.08 Anja Sieg

Confusion surrounds the future of Weltbild, one of Germany's largest media groups, after its owner the Catholic Church set in progress a review of the current ownership structure with a view to bringing in an outside investor for part or all of the business.

The news has led to speculation that industry heavyweights such as Bertelsmann, Holtzbrinck, and the Thalia book chain are lining up as potential bidders.

Weltbild is owned by 14 Catholic diocesis, some of whom have for quite some time been unhappy with the strategy of aggressive commercial growth and diversification implemented by longstanding c.e.o. Carel Halff. While Halff confirmed that the shareholders are actively examining their options, he strongly denied speculations that a break-up of the group was inevitable.

Weltbild's roots are in publishing, and together with Holtzbrinck it owns trade publisher Droemer Knaur. In recent years it has also set up a booming online business and diversified into bookselling, where it has quickly become one of the largest high street booksellers with more than 520 branches in Germany, Switzerland and Austria.

The news that Weltbild is on the block came on the same day that the company announced another record year for fiscal 2007/08 with turnover up 21% to €1.94bn (£1.54bn).

International Anja Sieg Germany Weltbild