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Frankfurter Allgemeine Zeitung - Germany | Friday, July 26, 2013

Springer media group in online megalomania

Springer Verlag announced on Thursday that it is selling several of its traditional papers because it plans to concentrate more on the online business. This megalomaniacal move has nothing to do with the crisis, argues the conservative daily Frankfurter Allgemeine Zeitung: "The group sees how easily gigantic companies like Google make money online and how hard it is to turn a profit from journalistic quality. So Springer has decided to jump on the bandwagon of the online oligopolists. ... Now company boss Döpfner is even getting rid of [the TV programme guide] Hörzu, the cornerstone of the company; with a circulation of 1.2 million it is as profitable as ever. The Funke Gruppe is actually being given a loan so that it can afford the takeover. ... This is the birth of a supraregional newspaper group and there's a wannabe super digital journalism group."

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