Heirs Win Springer Press Empire
BONN — The widow and two sons of the late newspaper magnate Axel Springer have won a bitter power struggle to gain control of the West German publishing empire, the company announced today.
The Axel Springer company said Franz and Frieder Burda--two stockholders who control 25.9% of the company’s shares--had sold their holdings to Springer’s heirs. That gives the Springer family a 52% majority interest in the concern. The Burdas’ action marks a sharp turnaround and a defeat for Leo Kirch, a wealthy film distributor who had been trying to increase his power within the Springer company. Springer built a family-owned empire that in addition to Bild, West Germany’s largest newspaper, also includes a respected conservative daily, Die Welt.
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