Busch Business Media, the specialized media organization owned by Cologne publisher Timo Busch, will purchase all shares in Munich-based Gruner + Jahr Entertainment Media GmbH, effective July 1. The deal extends to 22-year-old business weekly Musikwoche (circulation 4,650 throughout Germany, Austria, and Switzerland), publications Blickpunkt Film, Videomarkt, and Gamesmarkt, digital B2B internet platform mediabiz, and retail media such as Treffpunkt Kino und Kino.de.
Busch did not want to deny that he paid a high amount — in the single-digit million euros — for the specialist publications. Though he hinted at plans for consolidating his new assets’ entertainment divisions, Bush said he would keep the magazines’ Munich 100-strong editorial staff and maintain their individual brands. “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,” he told Billboard.
Launched in January of this year, Busch Business Media is a new publishing house that has not yet been actively operating on the market. Musikmarkt has been published for 56 years by the publishing house Josef Keller Verlag in Munich.