Internet Blamed for Publisher's Surplus Shrinkage
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BERLIN -- The annual surplus of the Axel Springer publishing company sank by more than one-third in the year 2000 to EUR 98 million, down from EUR 151 million in the previous year. As the tabloid publishing house reported on Tuesday in Berlin, sales within the same period of time rose by 8.9 percent to EUR 2.9 billion.
The publishing house attributes the surplus decrease to investments in existing newspapers and magazines, as well as the new strategic orientation towards the area of multimedia as a measure for securing the future. The general meeting that has been called for June 27, 2001 in Berlin will suggest the distribution of an unchanged dividend of EUR 1.43 per share.
Together with its cooperative partners T-Online, the Georg von Holtzbrinck publishing group, and Infoseek Corporation, the Axel Springer publishing company offers infoseek, the German-language search engine and navigational service. Booxtra, the Internet bookstore, is a joint venture of the partners T-Online and the Weltbild publishing company.
In addition to this, the Axel Springer publishing company has numerous other online service offers. One of these is Autoeuro, which was founded together with AUTO BILD and, independent of the largest manufacturers, is a provider for new and used cars on the German-language Internet.