Bastei Lübbe AG seals deal on cooperation with Chinese Hua Mei Holding

DGAP-News: Bastei Lübbe AG / Key word(s): Miscellaneous

2016-04-21 / 10:00
The issuer is solely responsible for the content of this announcement.

Bastei Lübbe AG seals deal on cooperation with Chinese Hua Mei Holding

Cologne, 21 April 2016. Bastei Lübbe AG (ISIN DE000A1X3YY0), which is listed in the Prime Standard of the Frankfurt Stock Exchange, and China's Hua Mei Holding are launching a far-reaching partnership. Together, the two media companies want to cooperate on content and purchase and exploit IP rights together worldwide, including by establishing an IP investment fund in Europe and China. A corresponding agreement between Bastei Lübbe AG and a subsidiary of Hua Mei Holding, the publisher Jing Dian Bo Wei, has now been signed in the presence of a delegation led by Congjiu Zhu, the Governor of Zhejiang Province, in Frankfurt am Main. For Thomas Schierack, CEO of Bastei Lübbe AG, the measure is a logical and significant step in Bastei Lübbe AG's long-term growth plans: "The cooperation with Hua Mei Holding and the accompanying involvement in China are an excellent fit with our company's strategy of taking on a broader international position," said Schierack.

The cooperation is set to include an "Own IP Media Fund", which will finance and co-produce global entertainment products such as films, books and games. "With this fund, we will connect China with Europe and the USA. We are really looking forward to the challenges and to the great, successful products that will entertain the world," Thomas Schierack continued.

Both sides see the deal as a first step in a long-term partnership in the field of the development of own IP, i.e. international and versatile content. "This agreement between the Hua Mei Holding subsidiary and Bastei Lübbe AG and the affirmation from the Governor of Zhejiang Province is a solid foundation for the joint development of own IP and international rights purchasing. On this basis, we can take the next step of planning and implementing the launch of an IP fund," explained Qing Zhao, CEO of Hua Mei Holding.

As a backdrop to Bastei Lübbe AG's cooperation, Schierack also highlighted the parallels between his company and its partner: "In addition to the traditional publishing business, we and Hua Mei Holding have both become more international and more digital in recent years as well as taking on a broader position in the exploitation chain. The focus on "own IP" and thus the creation and global marketing of proprietary brands is part of both our strategies - so we complement each other perfectly."

In addition to the business aspect, Hua Mei Holding CEO Qing Zhao also stressed the cultural aspect of the cooperation: "I am firmly convinced that the partnership is a new milestone for both our companies in their development on the global market. In addition, I believe it will have a positive effect on the cultural exchange between China and Germany and on their friendship."

About Bastei Lübbe AG:
Bastei Lübbe AG is an international media group based in Cologne. The business operations focus on the development and licensing of content distributed worldwide physically and digitally. The company's core business includes the traditional publishing business and the periodical puzzle magazines and novel booklets in the "Book" segment. With its twelve publishers and imprints, the group of companies currently offers approximately 3,600 titles in fiction, non-fiction and books for children and young adults. In the growing segment of hardcover fiction, the company has been the market leader in Germany for many years. At the same time, Bastei Lübbe is driving innovation in the field of digital media. As well as the production of thousands of audio and e-books, the "Digital" segment also includes holdings in the self-publishing platform "BookRix" and the renowned games publisher "Daedalic Entertainment". Bastei Lübbe AG's value chain is completed by the investment in the online shop "beam-ebooks.de" and the new and internationally unique streaming platform "oolipo".

With currently 334 employees and an annual turnover of roughly EUR 110.2 million (financial year 2014/2015), Bastei Lübbe AG is the largest medium-sized family company in the German publishing industry. Since 2013, the company's shares have been listed in the Prime Standard of the Frankfurt Stock Exchange (WKN A1X3YY, ISIN DE000A1X3YY0). Further information is available at www.luebbe.de.

Contact Bastei Lübbe AG:
Barbara Fischer
Director / Vice President
Public Relations
Tel.: +49 (0) 221 / 82 00 28 50
E-mail: barbara.fischer@luebbe.de

2016-04-21 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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