German media group Axel Springer acquired Paris-based Concept Multimedia, which operates France’s No. 3 property platform Logic-Immo, for €105 million ($115 million U.S.), according to a news release of Axel Springer.
Axel Springer already owns SeLoger.com, France’s No. 2 property site, which it acquired in 2011 for €633 million ($850 million U.S.). The sale is subject to the approval of the French Competition Authority.
Germany’s Axel Springer released its results for FY2016 yesterday, and the overall message was unchanged from the nine-month period (our report here), namely the division classifieds was the star performer in the financial year. In fact, it was the only division to grow its revenue in FY2016.
French media group Spir Communication, which has been shedding assets for a while, entered into exclusive negotiations for the sale of one of its most successful assets, namely Concept Multimedia, operator of the country’s No. 3 real estate site Logic-Immo.com.
At its annual Capital Markets Day on December 8, Germany's Axel Springer presented the very helpful - if not entirely correct - ranking of the world's biggest classifieds operators copied below.
Immowelt Group, the parent company of real estate sites Immowelt.de and Immonet.de, announced yesterday that Immonet's long-serving managing director Philip Schulze will step down on Nov. 15.
In the first nine months of FY2016 the division classifieds remained the biggest driver for revenue and earnings at Axel Springer, the German media group which released Q3 results today.
Valentin Cogels will take over as CEO of Belgium’s leading real estate site Immoweb.be tomorrow (Monday). He will replace Christophe Rousseaux (43), head of the site for the past eleven years.
Market commentators have described the sharp drop in the Schibsted share price since the start of the month as a response to the presentation of Facebook's Marketplace on Oct. 3. Could that be?
General Atlantic (GA) CEO Bill Ford joined the board of Axel Springer when professor Wolf Lepenies, board member for the past 12 years, retired.
Thomas Ebeling, chairman of German media group ProSiebenSat.1, told journalists today the company considers the pros and cons of buying a part of Unister.