COLOGNE, Germany (VIP NEWS) — Germany industry magazine MusikWoche has been purchased by Busch Business Media for a figure 'in the single-digit million euros'.
Busch will purchase all shares in the magazine`s company Gruner + Jahr Entertainment Media GmbH, effective July 1.
Together with the 22-year-old MusikWoche – which has a circulation of 4,650 throughout Germany, Austria, and Switzerland – the deal also includes publications Blickpunkt Film, Videomarkt, and Gamesmarkt, digital B2B internet platform mediabiz, and retail media such as Treffpunkt Kino und Kino.de.
MusikWoche`s Munich-based 100-strong editorial staff will remain alongside their individual brands.
Owner of Busch Business Media, Timo Busch said: “We want to further extend the established brands with the highly experienced and expert team, and we feel a commitment to the long-standing tradition of these publications."
Busch Business Media is a new publishing house that launched in January.