DOCSLIB.ORG

Google to Stop Publishing German Newspaper Extracts - WSJ

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Google to Stop Publishing German Newspaper Extracts - WSJ Google to Stop Publishing German Newspaper Extracts - WSJ http://online.wsj.com/articles/google-to-stop-publishing-german-newspap... Dow Jones Reprints: This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, use the Order Reprints tool at the bottom of any article or visit www.djreprints.com See a sample reprint in PDF Order a reprint of this article now format. TECHNOLOGY Search Giant to Avoid Paying Publishing Rights Following Change in Law By SAM SCHECHNER Oct. 2, 2014 10:27 a.m. ET Google has been in a long-running legal battle over a new German law that obliges the company to secure permission to display publishers’ content.. Associated Press Google Inc. will stop posting snippets from several large German newspapers beginning next week, rather than pay for the right to post them, escalating a fight with the country’s publishers amid broader pressure on the company in Europe. On Wednesday Google said it would stop displaying both text summaries and thumbnail images from newspapers including Axel Springer SE ’s Bild—the country’s most widely sold—because of a continuing legal fight over a new German law that obliges the company to secure permission to display publishers’ content. “Given this litigation, we’ll no longer be showing snippets and thumbnails for some well-known sites (in Germany),” Philipp Justus, managing director of Google Germany, said in a blog post, adding Google 1 of 2 10/3/2014 11:39 AM Google to Stop Publishing German Newspaper Extracts - WSJ http://online.wsj.com/articles/google-to-stop-publishing-german-newspap... “works hard” to help newspapers. The group representing the newspapers concerned—which have been seeking payment from Google—said the move amounted to blackmail. “It’s obviously Google’s aim to force the publishers to agree to free use of content,” the group said. The escalation is the latest front in a broader war that Google is fighting in Europe. Pressure in Germany and France has all but undone the U.S.-based company’s proposed settlement of antitrust complaints that it faces in WSJD is the Journal’s home for tech news, Brussels. European privacy regulators are ordering it to analysis and product reviews. unbundle the services it offers together. And European tax Carriers Offer ‘Double the Data’ to Poach Users cops and politicians are looking at how to force it to pay Angry Birds Maker to Cut 16% of Workforce more corporate taxes. EBay Minus PayPal: Slower Growth, More Competition The fight with newspapers is one of Google’s longest- Which States Make You Pay Amazon Sales lasting struggles. On and off for the better part of a decade, Tax papers have argued Google is undermining their brands and siphoning their ad revenue by making itself a home page for their content. Google says that such claims are nonsense, and that the company instead directs huge volumes of readers—and therefore adds dollars—to news sites. In Germany, a new law obliges the company to secure rights to publish anything other than links to articles and headlines. Google declined to pay for those rights, but gave publishers a choice: offer them for free or face the removal of snippets and thumbnails from its services like Google News. Many publishers, including Der Spiegel agreed, Google said. But several others including Axel Springer banded together to push for payment. The fight echoes those that have already occurred in Belgium and France, without Google paying for links. In Belgium in 2012, Google settled a six-year copyright dispute with publishers that at one point had led Google to remove some papers from its search products rather than pay for links. In France, papers agitated for a similar law to the one in Germany. Under government pressure, Google later settled with newspapers by creating a €60 million ($75.7 million) fund to help the papers modernize. Spain meanwhileis currentlyconsidering a similar law to Germany’s. That proposal seeks to raise some €80 million in annual tax revenue for the cash-strapped local media industry, but has faced criticism. —Friedrich Geiger contributed to this article. Write to Sam Schechner at [email protected] Copyright 2014 Dow Jones & Company, Inc. All Rights Reserved This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com 2 of 2 10/3/2014 11:39 AM.
Load more

Recommended publications
  • Annual Report 2019 Contents
    Annual Report 2019 Contents 4 Foreword 93 Report of the Supervisory Board 6 Executive Board 102 Consolidated Financial Statements 103 Consolidated Statement of 8 The Axel Springer share Financial Position 10 Combined Management Report 105 Consolidated Income Statement 106 Consolidated Statement of 13 Fundamentals of the Axel Springer Group Comprehensive Income 24 Economic Report 107 Consolidated Statement of 44 Economic Position of Axel Springer SE Cash Flows 48 Report on risks and opportunities 108 Consolidated Statement of Changes in Equity 60 Forecast Report 109 Consolidated Segment Report 71 Disclosures and explanatory report on the Executive Board pursuant to takeover law 110 Notes to the Consolidated Financial Statements 77 Corporate Governance Report 180 Responsibility Statement 181 Independent Auditor’s Report 187 Boards 2 Group Key Figures in € millions Change yoy 2019 2018 Group Revenues – 2.2 % 3,112.1 3,180.7 Digital revenue share1) 73.3 % 70.6 % 2) EBITDA, adjusted – 14.5 % 630.6 737.9 EBITDA margin, adjusted2) 20.3 % 23.2 % 2) EBIT, adjusted – 21.5 % 414.5 527.9 EBIT margin, adjusted 2) 13.3 % 16.6 % Net income – 35.4 % 134.6 208.4 2) Net income, adjusted – 21.5 % 263.7 335.7 Segments Revenues Classifieds Media 0.1 % 1,213.8 1,212.5 News Media – 4.4 % 1,430.9 1,496.2 Marketing Media 0.8 % 421.5 418.3 Services/Holding – 14.4 % 46.0 53.7 EBITDA, adjusted2) Classifieds Media – 3.8 % 468.4 487.2 News Media – 39.3 % 138.5 228.2 Marketing Media 20.3 % 107.8 89.6 Services/Holding − – 84.1 – 67.0 EBIT, adjusted2) Classifieds Media – 7.1 % 377.9 406.7 News Media – 54.4 % 72.1 158.2 Marketing Media 26.1 % 83.3 66.0 Services/Holding − – 118.6 – 103.0 Liquidity and financial position 2) Free cash flow (FCF) – 38.1 % 214.6 346.9 2) 3) FCF excl.
    [Show full text]
  • 14Annual Report Contents
    14Annual Report Contents 4 Foreword 78 Report of the Supervisory Board 6 Executive Board 86 Consolidated Financial Statements 87 Responsibility Statement 8 The Axel Springer share 88 Auditor’s Report 89 Consolidated Statement of Financial Position 10 Combined Management Report 91 Consolidated Statement of 12 Fundamentals of the Axel Springer Group Comprehensive Income 22 Economic report 92 Consolidated Statement of Cash Flows 41 Economic position of Axel Springer SE 93 Consolidated Statement of Changes in Equity 44 Events after the reporting date 94 Consolidated Segment Report 45 Report on risks and opportunities 95 Notes to the Consolidated 56 Forecast report Financial Statements 61 Disclosures and explanatory report of the Executive Board pursuant to takeover law 158 Boards 65 Corporate Governance Report Group Key Figures Continuing operations in € millions Change yoy 2014 2013 2012 Group Total revenues 8.4 % 3,037.9 2,801.4 2,737.3 Digital media revenues share 53.2 % 47.5 % 42.4 % 1) EBITDA 11.6 % 507.1 454.3 498.8 1) EBITDA margin 16.7 % 16.2 % 18.2 % 2) Digital media EBITDA share 72.1 % 62.0 % 49.4 % 3) EBIT 9.7 % 394.6 359.7 413.6 Consolidated net income 31.9 % 235.7 178.6 190.7 3) Consolidated net income, adjusted 9.3 % 251.2 229.8 258.6 Segments Revenues Paid Models 2.6 % 1,561.4 1,521.5 1,582.9 Marketing Models 10.8 % 794.1 716.5 662.8 Classified Ad Models 27.2 % 512.0 402.6 330.2 Services/Holding 6.1 % 170.5 160.8 161.4 EBITDA1) Paid Models – 2.4 % 244.2 250.1 301.8 Marketing Models 6.0 % 109.7 103.4 98.1 Classified Ad Models
    [Show full text]
  • Entscheidungen Im August 2020 Und Ergebnisse Der 252. Sitzung Der KEK Zulassungen • Supreme Master TV / Supreme Master Ching Hai Deutschland E
    KEK-Pressemitteilung 04/2020 • Berlin, 8. September 2020 Entscheidungen im August 2020 und Ergebnisse der 252. Sitzung der KEK Zulassungen • Supreme Master TV / Supreme Master Ching Hai Deutschland e. V. • TVR (Arbeitstitel) / Deutsches Musik Fernsehen GmbH & Co. KG Beteiligungsveränderungen • TM-TV GmbH • ProSiebenSat.1 Media SE • RTL Group S.A. • German Car TV Programm GmbH und MV Sendebetriebs- gesellschaft UG (haftungsbeschränkt) • sporttotal.tv GmbH • WeltN24 GmbH und Bild GmbH Die Kommission zur Ermittlung der Konzentration im Medienbereich (KEK) hat entschieden, dass den folgenden Zulassungen und Beteiligungsveränderungen keine Gründe der Sicherung der Meinungsvielfalt entgegenstehen: Zulassung Supreme Master TV / Supreme Master Ching Hai Deutschland e. V. Der Supreme Master Ching Hai Deutschland e.V. hat bei der Medienanstalt Berlin-Brandenburg (mabb) eine Zulassung für das bundesweite Fernsehspartenprogramm Supreme Master TV beantragt. Das Programm Supreme Master TV ist geprägt vom Leben und Wirken der Ching Hai, einer vietnamesischen Schriftstellerin, Unternehmerin und Meditationslehrerin, die in ihrem Umfeld als spirituelle Meisterin gilt. Themenschwerpunkte sind unter anderem Veganismus, Frieden, Kultur, Spiritualität, Umwelt und Gesundheit. Supreme Master TV wird bereits international über verschiedene Ausspielwege verbreitet. In Deutschland ist der Empfang über die sendereigene Website www.suprememastertv.com und über YouTube, Apple TV, Amazon Fire TV sowie Android-Smart-TV-Systeme und TikTok möglich. 1/8 Zulassung TVR (Arbeitstitel) / Deutsches Musik Fernsehen GmbH & Co. KG Die Deutsches Musik Fernsehen GmbH & Co. KG plant ein Unterhaltungsspartenprogramm unter dem Arbeitstitel TVR. Das Programm soll frei empfangbar über Satellit (Astra) und Kabel (PŸUR/Tele Columbus) erfolgen. Ein entsprechender Zulassungsantrag wurde bei der Bremischen Landesmedienanstalt (brema) gestellt. Die Deutsches Musik Fernsehen GmbH & Co.
    [Show full text]
  • What Do News Aggregators Do? Evidence from Google News in Spain and Germany*
    What Do News Aggregators Do? Evidence from Google News in Spain and Germany* Joan Calzada† Ricard Gil‡ December 2018 Abstract The impact of aggregators on news outlets is ambiguous. In particular, the existing theoretical literature highlights that although aggregators create a market expansion effect when they bring visitors to news outlets, they also generate a substitution effect if some visitors switch from the news outlets to the aggregators. Using the shutdown of the Spanish edition of Google News in December of 2014 and difference-in-differences methodology, this paper empirically examines the relevance of these two effects. We show the shutdown of Google News in Spain decreased the number of daily visits to Spanish news outlets between 8% and 14%, and that this effect was larger in outlets with less overall daily visits and a lower share of international visitors. We also find evidence suggesting that the shutdown decreased online advertisement revenues and advertising intensity at news outlets. We then analyze the effect of the opt-in policy adopted by the German edition of Google News in October of 2014. Although such policy did not significantly affect the daily visits of all outlets that opted out, it reduced by 8% the number of visits of the outlets controlled by the publisher Axel Springer. Our results demonstrate the existence of a net market-expansion effect through which news aggregators increase consumers' awareness of news outlets' contents, thereby increasing their number of visits. * We thank Shane Greenstein, Avi
    [Show full text]
  • US Mainstream Media Index May 2021.Pdf
    Mainstream Media Top Investors/Donors/Owners Ownership Type Medium Reach # estimated monthly (ranked by audience size) for ranking purposes 1 Wikipedia Google was the biggest funder in 2020 Non Profit Digital Only In July 2020, there were 1,700,000,000 along with Wojcicki Foundation 5B visitors to Wikipedia. (YouTube) Foundation while the largest BBC reports, via donor to its endowment is Arcadia, a Wikipedia, that the site charitable fund of Lisbet Rausing and had on average in 2020, Peter Baldwin. Other major donors 1.7 billion unique visitors include Google.org, Amazon, Musk every month. SimilarWeb Foundation, George Soros, Craig reports over 5B monthly Newmark, Facebook and the late Jim visits for April 2021. Pacha. Wikipedia spends $55M/year on salaries and programs with a total of $112M in expenses in 2020 while all content is user-generated (free). 2 FOX Rupert Murdoch has a controlling Publicly Traded TV/digital site 2.6M in Jan. 2021. 3.6 833,000,000 interest in News Corp. million households – Average weekday prime Rupert Murdoch Executive Chairman, time news audience in News Corp, son Lachlan K. Murdoch, Co- 2020. Website visits in Chairman, News Corp, Executive Dec. 2020: FOX 332M. Chairman & Chief Executive Officer, Fox Source: Adweek and Corporation, Executive Chairman, NOVA Press Gazette. However, Entertainment Group. Fox News is owned unique monthly views by the Fox Corporation, which is owned in are 113M in Dec. 2020. part by the Murdoch Family (39% share). It’s also important to point out that the same person with Fox News ownership, Rupert Murdoch, owns News Corp with the same 39% share, and News Corp owns the New York Post, HarperCollins, and the Wall Street Journal.
    [Show full text]
  • Axel Springer
    Cooperation and Partnership as Driving Forces behind Innovation and Success in Digital Business in Germany German-Japanese Business Seminar: "Innovation Partnership in Digital Economy – Growth Opportunities in Düsseldorf and North Rhine-Westphalia” Tokyo, 13.9.2017 © Prof. Dr. Holger Ernst Chair of Technology and Innovation Management WHU – Otto Beisheim School of Management Burgplatz 2, 56179 Vallendar (Germany) Tel.: +49 261 6509-246 Fax: +49 261 6509-249 mailto: [email protected] URL: www.whu.edu/tim Agenda § Digitization as a Disruptive Technology § Open Innovation Strategies in Disruptive Environments § How to Re-Invent the Firm in the Light of Digitization – The Case of Axel Springer § Summary © Prof.. Dr. Holger Ernst 2016 Page 2 Disruption in established Industries caused by Digitization OLD World NEW World © Prof.. Dr. Holger Ernst 2016 Page 3 Disruption in established Industries caused by Digitization OLD World NEW World © Prof.. Dr. Holger Ernst 2016 Page 4 The Automotive Industry – Ripe for the Next Digital Disruption! OLD World NEW World © Prof.. Dr. Holger Ernst 2016 Page 5 The Internet of Things (Industry 4.0) – The Caes of GE Page 6 © Prof.. Dr. Holger Ernst 2016 Source: Financial Times, 13.01.16 GE‘s New Digital Strategy ”If you woke up as an industrial company today, you will wake up as a software and analytics company tomorrow.” (Jeff Immelt, CEO GE). „A radical overhaul designed to transform the 123- year-old group into a digital industrial company. At its core is a drive to use advances in sensors, communications and data analytics to improve performance both for itself and its customers.“ (FT, 13.1.2016) © Prof.
    [Show full text]
  • Financial Statements of Axel Springer SE for the Period Ending 18December 31, 2018
    Financial Statements of Axel Springer SE for the period ending 18December 31, 2018 Content 3 Balance Sheet 4 Income Statement 5 Notes to the Financial Statements 5 General information 5 Accounting policies 7 Notes to the balance sheet 13 Notes to the income statement 15 Other disclosures 24 Responsibility Statement 25 Independent Auditor’s Report The combined management report of Axel Springer SE and Axel Springer Group is published in the Axel Springer Group’s 2018 annual report. 2 Financial Statements 2018 Axel Springer SE Balance Sheet Balance Sheet € millions Note 12/31/2018 12/31/2017 Fixed assets (1) 5,999.9 5,797.3 Current assets 230.2 276.4 Prepaid expenses 5.2 4.0 ASSETS 6,235.3 6,077.6 € millions Note 12/31/2018 12/31/2017 Equity (4) 2,541.2 2,632.7 Provisions (5) 168.6 333.2 Liabilities (6) 3,497.1 3,086.7 Deferred income 28.4 25.0 EQUITY AND LIABILITIES 6,235.3 6,077.6 3 Financial Statements 2018 Axel Springer SE Income Statement Income Statement € millions Note 2018 2017 Net income 124.3 271.9 Distributable profit 226.6 215.8 4 Financial Statements 2018 Axel Springer SE Notes to the Financial Statements Notes to the Financial Statements General information Systematic depreciation and amortization was based on the following typical useful lives: Axel Springer SE is a European exchange-listed stock corporation (Societas Europaea) with its head office in in years Useful life Berlin, Germany. The company is registered with the commercial register of Berlin-Charlottenburg Local Court under the number HRB 154517 B.
    [Show full text]
  • Reviewed Scott Dissertation Final
    MURDEROUS MOTHERS: FEMINIST VIOLENCE IN GERMAN LITERATURE AND FILM (1970-2000) Claire E. Scott A dissertation submitted to the faculty at the University of North Carolina at Chapel Hill and Duke University in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the Carolina-Duke Graduate Program in German Studies. Chapel Hill 2017 Approved by: Kata Gellen Stefani Engelstein Richard Langston Priscilla Layne Inga Pollmann ©2017 Claire E. Scott ALL RIGHTS RESERVED ii ABSTRACT Claire E. Scott: Murderous Mothers: Feminist Violence in German Literature and Film (1970-2000) (Under the direction of Kata Gellen) This dissertation analyzes literary and filmic representations of violent mothers from late 20th-century Germany. It employs feminist theories of language and theories of the voice and the body in film to enhance close readings of texts in which female protagonists defy gendered expectations by perpetrating acts of aggression. Through an interplay between thematic violence and the transgression of aesthetic conventions, these works generate an imaginary of feminist violence that advances feminist politics. Highlighting this dynamic reveals female bodies and voices as important sites for working through both past and contemporary violence in the German context. In addition, this work has broader theoretical significance as an intermediary between feminist theories of language and materialist feminist theories. Instead of strategies for emancipation, these texts generate female subjectivities that are engaged, not in assertions of individuality, but in collective and collaborative storytelling practices. The first chapter considers Dea Loher’s Manhattan Medea (1999) and Christa Wolf’s Medea. Stimmen (1996). Both of these texts use the story of Medea to come to terms with a historical context in which the voices of outsiders are excluded.
    [Show full text]
  • Criminelen, Guerrillastrijders of Toch Terroristen? De Framing Van De Eerste Generatie Rote Armee Fraktion
    Criminelen, guerrillastrijders of toch terroristen? De framing van de eerste generatie Rote Armee Fraktion Auteur: Matthijs Kock Studentnummer: 5996198 Cursus: Ges-Bachelor Eindwerkstuk (GE3V14054) Begeleider: Stefanie Massink MSc Datum: 18 januari 2019 Plaats: Utrecht “One man’s terrorist is another man’s freedom fighter” 1 - Walter Laqueur Afbeelding voorzijde: Lebendiges Museum Online, ‘Plakat “Anarchistische Gewalttäter Baader/Meinhof- Bande”’, https://www.hdg.de/lemo/bestand/objekt/plakat-raf-fahndungsplakat.html (18-11-2018). 1 Walter Laqueur, The Age of Terrorism (Boston 1987) 302. Samenvatting Vanaf de 21e eeuw heeft de hele wereld, maar in het bijzonder West-Europa, te maken gehad met een toename in het aantal terroristische aanslagen. Als gevolg hiervan groeit in de academische wereld het onderzoek naar het concept terrorisme. Want ondanks dat het fenomeen al sinds de Oudheid bestaat, is er nog altijd geen universele definitie voor terrorisme. Na een analyse van verschillende definities is er in dit onderzoek de volgende werkdefinitie opgesteld: terrorisme is het door personen of groeperingen intentioneel dreigen met en/of gebruiken van geweld tegen burgers die zelf geen dreiging vormen voor de terrorist en/of terroristische organisatie, om sociaal-politieke veranderingen in de maatschappij te bewerkstelligen. Deze werkdefinitie wordt in dit onderzoek getoetst aan de casus van de eerste generatie Rote Armee Fraktion (RAF), omdat deze groepering verschillende overeenkomsten heeft met hedendaagse terroristische organisaties. De RAF werd in 1970 opgericht tegen de kapitalistische maatschappij van de Bondsrepubliek Duitsland en de Amerikaanse strijd in de Vietnamoorlog. De RAF werd door de West-Duitse overheid al vroeg bestempeld als een terroristische organisatie, maar haar politieke aspiraties werden aan de andere kant ook onderuitgehaald door de leden neer te zetten als gewone criminelen.
    [Show full text]
  • Financial Statements of Axel Springer SE As of December 31, 2019
    Financial Statements of Axel Springer SE for the period ending December 31, 2019 Content 3 Balance Sheet 4 Income Statement 5 Notes to the Financial Statement 5 General Information 5 Accounting policies 7 Notes to the balance sheet 14 Notes to the income statement 16 Other disclosures 27 Responsibility Statement 28 Independent Auditor’s Report The combined management report of Axel Springer SE and Axel Springer Group is published in the Axel Springer Group’s 2019 annual report. 2 Financial Statements 2019 Axel Springer SE Balance Sheet Balance Sheet € millions Note 12/31/2019 12/31/2018 Intangible assets 10.0 13.0 Property, plant and equipment 306.6 205.7 Non-current financial assets 6,467.5 5,781.2 Fixed assets (1) 6,784.1 5,999.9 Inventories (2) 3.8 5.0 Receivables and other assets (3) 216.5 164.0 Cash and cash equivalents 72.9 61.2 Current assets 293.2 230.2 Prepaid expenses 6.1 5.2 ASSETS 7,083.3 6,235.3 € millions Note 12/31/2019 12/31/2018 Subscribed capital 107.9 107.9 Additional paid-in capital 547.9 547.9 Retained earnings 1,666.3 1,658.8 Distributable profit 125.2 226.6 Equity (4) 2,447.3 2,541.2 Provisions (5) 264.7 168.6 Liabilities (6) 4,344.0 3,497.1 Deferred income 27.4 28.4 EQUITY AND LIABILITIES 7,083.3 6,235.3 3 Financial Statements 2019 Axel Springer SE Income Statement Income Statement € millions Note 2019 2018 Revenues (11) 806.8 851.1 Internal costs capitalized 1.1 1.4 Other operating income (12) 10.1 188.9 Purchased goods and services (13) – 204.3 – 221.6 Personnel expenses (14) – 303.8 – 210.0 Amortization, depreciation
    [Show full text]
  • Axel Springer Annual Report 2017
    17Annual Report Contents 4 Foreword 82 Report of the Supervisory Board 6 Executive Board 90 Consolidated Financial Statements 91 Consolidated Statement of 8 The Axel Springer share Financial Position 10 Combined Management Report 93 Consolidated Income Statement 93 Consolidated Statement of 12 Fundamentals of the Axel Springer Group Comprehensive Income 22 Economic Report 94 Consolidated Statement of 39 Economic Position of Axel Springer SE Cash Flows 42 Report on risks and opportunities 95 Consolidated Statement of Changes in Equity 56 Forecast Report 96 Consolidated Segment Report 61 Disclosures and explanatory report on the Executive Board pursuant to takeover law 97 Notes to the Consolidated Financial Statements 65 Corporate Governance Report 166 Responsibility Statement 167 Independent Auditor’s Report 175 Boards 2 Group Key Figures in € millions Change yoy 2017 2016 Group Revenues 8.3 % 3,562.7 3,290.2 Digital media revenues share 1) 71.5 % 67.4 % EBITDA, adjusted2) 8.5 % 645.8 595.5 EBITDA margin, adjusted 2) 18.1 % 18.1 % Digital media EBITDA share1) 80.0 % 72.5 % EBIT, adjusted2) 7.0 % 504.0 471.1 3) Net income – 16.0 % 378.0 450.0 Net income, adjusted2) 3) 9.2 % 327.5 299.9 Segments4) Revenues Classifieds Media 14.6 % 1,007.7 879.5 News Media 1.9 % 1,509.8 1,481.6 Marketing Media 15.0 % 984.5 856.2 Services/Holding – 16.8 % 60.7 72.9 EBITDA, adjusted2) Classifieds Media 16.5 % 413.2 354.6 News Media 2.0 % 218.8 214.4 Marketing Media 16.3 % 95.6 82.2 Services/Holding − – 81.7 – 55.7 Liquidity and financial position Free cash flow (FCF)2) 83.9 % 497.4 270.5 FCF excl.
    [Show full text]
  • Joint Reasoned Statement of the Executive Board and the Supervisory Board
    – Non-Binding English Translation – Mandatory Publication pursuant to Sec. 27 (3) in conjunction with Sec. 14 (3) sentence 1 of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz – WpÜG) Joint Reasoned Statement of the Executive Board and the Supervisory Board of Axel Springer SE Axel-Springer-Straße 65 10888 Berlin pursuant to Sec. 27 (1) WpÜG on the voluntary public takeover offer of Traviata II S.à r.l. 2, rue Edward Steichen 2540 Luxembourg Grand Duchy of Luxembourg to the shareholders of Axel Springer SE of 11 July 2019 Shares of Axel Springer SE: ISIN: DE0005501357 (listed) ISIN: DE0005754238 (non-listed) Tendered Shares of Axel Springer SE ISIN: DE000A2YPGA9 (listed) ISIN: DE000A2YPGD3 (non-listed) TABLE OF CONTENTS TABLE OF CONTENTS TABLE OF CONTENTS ...................................................................................................................... 2 DEFINITIONS ...................................................................................................................................... 5 I. GENERAL INFORMATION ABOUT THIS STATEMENT .............................................. 7 1. Legal and factual bases ............................................................................................................ 7 2. Statement by the competent works council ............................................................................ 8 3. Publication of this Statement and possible amendments to the Offer ................................. 9 4. Independent responsibility
    [Show full text]