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Axel Springer Makes Major Purchase
Herbert R. Lottman -- 9/7/98
The Axel Springer press group, owner of Ullstein Verlag, will acquire 95% of Munich-based Econ &List Publishing Company, which includes such well-known imprints as Paul List, Claassen, Marion von Schroder, Econ Verlag, Sudwest and Bucher illustrated books, with a total turnover of more than DM 160 million. "It's the biggest German group you could still buy," a trade observer commented.
Christian Strasser, formerly of Time-Life Books in Europe, who has been a partner and publisher of Econ &List, will continue to run the Munich companies, while Wolfram Gobel will remain in charge of the Berlin half of the group. The two operations will work together in some areas, notably in paperback publishing. Meanwhile, parent house Axel Springer (not to be confused with scientific Springer Verlag) can be expected to grow still further through acquisitions.
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