Chief Company News Correspondent
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Jun 4, 2012

Springer JV buys control of Polish website from TVN

FRANKFURT/WARSAW, June 4 (Reuters) – German publisher Axel
Springer and Swistzerland’s Ringier agreed on Monday
to pay $267 million to buy 75 percent of Poland’s top Internet
portal Onet.pl from Polish broadcaster TVN to boost
their position in eastern Europe.

For heavily indebted TVN, one of Poland’s top two private
broadcasters, the sale will bring the media group back to its
roots after it agreed to forego control of its pay-television
unit to Vivendi’s Canal+.

May 3, 2012

Betfair wins German online licence

LONDON/FRANKFURT, May 3 (Reuters) – The first licences to
offer online gambling in Germany have been awarded, with British
online betting firm Betfair benefiting from the state
of Schleswig Holstein’s liberalised gambling rules.

The northern state, whose centre-right coalition government
voted in favour of relaxing its gambling laws in September, said
on Thursday that it had awarded three licences valid to 2018 -
one to Betfair for sports betting, one to Germany’s Jaxx AG
and one to the state lottery.

Apr 25, 2012

Siemens cuts profit outlook on wind project delays

FRANKFURT/MUNICH (Reuters) – German engineering conglomerate Siemens (SIEGn.DE: Quote, Profile, Research) slashed its full-year profit forecast on Wednesday after incurring another major charge related to delayed offshore wind power projects in the second quarter.

The cut was slightly less than analysts feared, however, as the charge was offset by a better-than-anticipated performance at the group’s core industrial and healthcare businesses.

Apr 25, 2012

Siemens cuts outlook on delayed wind projects

FRANKFURT/MUNICH, April 25 (Reuters) – German engineering
conglomerate Siemens AG slashed its full-year outlook
on Wednesday after incurring another major charge related to
delayed offshore wind power projects in the second quarter.

The announcement comes a day after Siemens named a new chief
for the affected Power Transmission division, having ousted the
unit’s former CEO Udo Niehage.

Apr 24, 2012

Siemens ousts Power Transmission chief after profit hit

FRANKFURT, April 24 (Reuters) – German engineering
conglomerate Siemens AG ousted the chief of its Power
Transmission business, which has been hit with costly delays to
offshore wind projects.

Germany’s biggest company by market capitalisation said on
Tuesday Karlheinz Springer, 54, would replace Udo Niehage as the
unit’s chief executive on May 1.

Apr 17, 2012

Sky splashes out to tighten hold on German soccer

FRANKFURT (Reuters) – Sky Deutschland, part-owned by Rupert Murdoch’s News Corp, heavily outbid Deutsche Telekom to retain key rights to German league soccer on Tuesday, a costly move seen as crucial for the loss-making pay-TV group.

Competition drove the price up sharply, with the German Football League (DFL) saying media rights for the four seasons starting 2013/14 would raise an average 628 million euros ($820 million) per year, up 52 percent on the current four-year deal.

Apr 17, 2012

Sky pays up to tighten grip on German soccer

FRANKFURT (Reuters) – Sky Deutschland, part owned by Rupert Murdoch’s News Corp, has heavily outbid Deutsche Telekom to retain key rights to German league soccer, a move seen as crucial to the future of the loss-making pay-TV group.

Competition drove the price up sharply, with the German Football League (DFL) saying media rights for the four seasons starting 2013/14 would raise an average 628 million euros ($820 million) per year, up 52 percent on the current four-year deal.

Apr 17, 2012

Siemens to scrap profit goal on wind power hit-report

FRANKFURT, April 17 (Reuters) – German engineering
conglomerate Siemens is poised to scrap its full-year
net profit target due to losses related to offshore wind
projects, Financial Times Deutschland reported, citing company
sources.

The newspaper said on Tuesday Siemens would book charges at
its Power Transmission business for the financial second quarter
at about the same level as in the first quarter, when they stood
at 203 million euros ($265 million).

Apr 5, 2012

Soccer-Sky faces costly battle to retain German rights

FRANKFURT/LONDON, April 5 (Reuters) – Incumbent Sky
Deutschland is tipped to fend off a heavyweight
challenge from Deutsche Telekom and retain the main
live rights to top-flight German soccer, but the competition
will drive up the cost.

The German Football League (DFL) will discuss bids at a
meeting on April 17 when it is hoping to announce the contract
award for the four seasons from 2013-14.

Mar 9, 2012

Germans seek solace from hectic lives on spa breaks

BERLIN (Reuters) – Massages, steam baths and a rest from an increasingly busy lifestyle are drawing a growing number of Germans to spa breaks, one of the tourism sector’s fastest-growing segments.

Tour operators boast above-average growth in spa holiday bookings and see no end to demand as Germans, the world’s biggest spenders on holidays, add more short “wellness” trips close to home to their annual vacation schedule.