Burda goes for the tv.gusto
EmptyCOLOGNE, Germany -- German publishing house Hubert Burda has taken a 50% stake in German 24-hour food channel tv.gusto.
The deal, which still must be approved by federal and regional media authorities, represents a major move for Burda in its strategy of trying to transfer the success of its print properties into the electronic sphere.
Burda is a market leader in the German food magazine sector, with several best-selling specialty titles.
Tv.gusto founders Joerg Schuette and Marc Pasture will stay on with the channel and continue to hold minority stakes in the company, with Schuette holding 25.1% and Pasture a 24.9% stake.
Tv.gusto is distributed via satellite and over digital cable in Germany and available to more than 20 million viewers in the territory.