Some DAPD Divisions File For Insolvency
Posted on 10/15/2012 by Jim Pickerell | Printable Version |
The Berlin based news agency group DAPD filed for insolvency on October 2, 2012. However, this action only affects six companies within the dapd media holding group AG including two photo services – dfd Foto Service GmbH and dapd video GmbH.
Eighteen other subsidiaries that are part of dapd media holding AG are unaffected by this bankruptcy proceeding. The business divisions that are not affected are photo (ddp images, Picture Press, SIPA USA), automotive and web content (Airmotion, News Right Management), Public Relations (ddp direct) and entertainment news (news spot on). In addition, the entire French news agency SIPA News Group which was purchased in July 2011 is not involved.
Sources suggest that this may just be a debt restructuring effort, but there are also indications that some investors are looking to pull out.
During the preliminary insolvency proceedings, DAPD news production is expected to continue as usual with no reduction in quality.
Copyright © 2012 Jim Pickerell
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