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Spiegel-Verlag Rudolf Augstein GmbH & Co. KG

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Title: Spiegel-Verlag Rudolf Augstein GmbH & Co. KG
Description: Der Spiegel is Germany's most influential political news magazine. In the 1970's, its founder Rudolf Augstein gave a 50% ownership stake to his employees and sold another 25% to rival publisher Gruner+Jahr, but retained significant control during his lifetime by stipulating in the bylaws that every important business decision would require a 76% shareholder approval. When Augstein died in 2002, however, his co-owners exercised the option the same bylaws gave them to buy a 0.5% stake each from Augstein's heirs, who thus lost their veto rights. In September 2007, the benefits and costs of sharing ownership with employees become particularly salient when the employees block the CEO's proposal to acquire 50% of the Financial Times Deutschland. Faced with the new balance of power, Rudolf's eldest son Jakob Augstein is forced to rethink the role that his family can play in Spiegel going forward. Should he try to buy back the pivotal stake? Sell the family stake altogether? But to whom, and at what price?
Authors: Belen Villalonga, Daniela Beyersdorfer, Vincent Dessain
Resource Type: eBook.
Categories: BUSINESS & ECONOMICS / General
Database: eBook Collection (EBSCOhost)
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  – Type: ebook-pdf
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  Availability: 0
Header DbId: nlebk
DbLabel: eBook Collection (EBSCOhost)
An: 2308649
RelevancyScore: 1018
AccessLevel: 6
PubType: eBook
PubTypeId: ebook
PreciseRelevancyScore: 1018.08020019531
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  Data: Spiegel-Verlag Rudolf Augstein GmbH & Co. KG
– Name: Abstract
  Label: Description
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  Data: Der Spiegel is Germany's most influential political news magazine. In the 1970's, its founder Rudolf Augstein gave a 50% ownership stake to his employees and sold another 25% to rival publisher Gruner+Jahr, but retained significant control during his lifetime by stipulating in the bylaws that every important business decision would require a 76% shareholder approval. When Augstein died in 2002, however, his co-owners exercised the option the same bylaws gave them to buy a 0.5% stake each from Augstein's heirs, who thus lost their veto rights. In September 2007, the benefits and costs of sharing ownership with employees become particularly salient when the employees block the CEO's proposal to acquire 50% of the Financial Times Deutschland. Faced with the new balance of power, Rudolf's eldest son Jakob Augstein is forced to rethink the role that his family can play in Spiegel going forward. Should he try to buy back the pivotal stake? Sell the family stake altogether? But to whom, and at what price?
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  Data: <searchLink fieldCode="AR" term="%22Belen+Villalonga%22">Belen Villalonga</searchLink><br /><searchLink fieldCode="AR" term="%22Daniela+Beyersdorfer%22">Daniela Beyersdorfer</searchLink><br /><searchLink fieldCode="AR" term="%22Vincent+Dessain%22">Vincent Dessain</searchLink>
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    Languages:
      – Code: eng
        Text: English
    Titles:
      – TitleFull: Spiegel-Verlag Rudolf Augstein GmbH & Co. KG
        Type: main
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      – PersonEntity:
          Name:
            NameFull: Belen Villalonga
      – PersonEntity:
          Name:
            NameFull: Daniela Beyersdorfer
      – PersonEntity:
          Name:
            NameFull: Vincent Dessain
      – PersonEntity:
          Name:
            NameFull: Belen Villalonga
      – PersonEntity:
          Name:
            NameFull: Daniela Beyersdorfer
      – PersonEntity:
          Name:
            NameFull: Vincent Dessain
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          Dates:
            – D: 01
              M: 01
              Type: published
              Y: 2008
          Titles:
            – TitleFull: Spiegel-Verlag Rudolf Augstein GmbH & Co. KG
              Type: main
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