Springer, T-Online Found Joint Online Venture
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According to a press report, Germany's Axel Springer publishing company and T-Online aim to become the largest online advertising marketer in Europe.
With a reference to company insiders, the Monday edition of "Handelsblatt" reported that Interactive Media AG, the publisher's online subsidiary, wants to found a joint venture with the Internet provider. In joining together this way, both companies are reacting to the tough competition, the Düsseldorf business paper said. Just last week, the Burda and Milchstrasse publishing companies announced the merger of their Internet subsidiaries,
For Springer, the cooperation offers the opportunity to become the leader on the European market, the "Handelsblatt" reported. In the spring, Springer entered into a partnership with T-Online for the Bild.de entertainment portal. Despite the current severe slump in online marketing in Europe, market researchers predict strong growth in the coming years.