Regional Publishing International 41
M&A IN GERMANY
Concentration process within the German publishing
markets is heating up
Concentration process within the German publishing markets is heat- Transactions in German print media 2003 – 2006
ing up. With 164 takeovers and participations, the M&A advisors at Bar-
tholomäus & Cie. recorded a new all-time high in 2006, and a growth
164
160
of 19 percent compared to 2005. In its publication ‘Transaktionsmonitor
138
Verlagswesen 2006’, Bartholomäus & Cie. analyzed a total of 478 deals 120
in print media over the past four years. Total transaction value also in- 94
creased significantly compared to the previous year. A key reason for this 80
82
development is the growing number of larger deals and higher company
valuations, but also the fact that more buyers were actively pursuing ex- 40
ternal growth strategies. In parallel, the financial performance of both
buyers and targets improved significantly compared to the early years 0
of the decade. 3
One of the more visible deals during the year 2006 was the ¤ 4.5 billion
200
2004 2005 2006
share buyback of Bertelsmann from Groupe Bruxelles Lambert.
Takeovers and participations of German publishers abroad showed an
increase from 21 to 37 deals. In strong contrast, the German market con-
solidates very much among local publishers: Only seven German players
were taken over by foreign buyers.
Axel Bartholomäus
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AAU07_2722_Inhalt.indd 41U07_2722_Inhalt.indd 41 008.11.2007 13:51:20 Uhr8.11.2007 13:51:20 Uhr
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