HAMBURG/GÜTERSLOH (dpa-AFX) - In its plans to sell numerous magazines around Hamburg-based publisher Gruner+Jahr, parent company Bertelsmann has received its first offers. Group CEO Thomas Rabe told the Deutsche Presse-Agentur on Thursday: "The sales process has started. We have received initial offers this week." Rabe added: "We are now sifting through these offers and will then approach the bidders. I am confident that we will essentially complete the sales process by the summer."

In February, media group RTL Deutschland, which took over G+J's magazine division effective 2022, announced the closure of more than 20 magazines following a portfolio review. In addition, several magazines are to be sold. In total, around 700 of the 1900 jobs would be eliminated. RTL wants to focus on core brands such as "Stern" and "Geo" and invest in digital there. RTL hopes for synergies between the two companies. G+J and RTL are part of Bertelsmann's portfolio in Gütersloh.

Group CEO Rabe said, "We signed the social plan this week. We agreed on the terms with the works councils." According to Rabe, there was a works meeting on the same day.

Regarding the planned title closures, he said, the company wants to discuss the roadmap with the works council in the coming weeks and work out the investment plans in detail. "Then it will become increasingly clear in which direction the journey is going," Rabe said./rin/DP/mis