German media business threatened by family fued

A family feud has escalated within one of Germany’s largest media empires, DuMont Schauberg. The 83-year-old owner Alfred Neven DuMont has removed his son, Konstantin, from the company after the latter demanded his father’s resignation.

Konstantin is said to have been severely critical of the way his father has chosen to run the publishing business, accusing him of showing no interest in the digital age and putting the company at great risk by not following publishing trends.

MDS is owned by two families, with a joint fortune estimated at €650m. Without a resolution, Konstantin stands to lose his share in that wealth, while the company’s reputation is also at stake.

MDS publishes a range of newspapers, including the Kölner Stadt-Anzeiger and Mitteldeutsche Zeitung, as well as publications in Israel.

(Source: MediaGuardian)

This article appears in issue 263 of Media Digest.

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