Frankfurter Rundschau - Restructuring

Restructuring

In 2003, the paper had financial difficulties and was supported by a guarantee from the federal state of Hesse. In May 2004 the DDVG acquired ninety percent of the shares of the Druck-und Verlagshaus Frankfurt am Main (DUV). The social democrats emphasized, that they wanted to assure the future of one of the few left-liberal daily newspapers in Germany and asserted they would not exert influence on the articles. The social democrats also announced that they wanted to reduce their share to under fifty percent until 2006. In order to save the paper from insolvency, the DDVG soon drastically cut back expenditures. By means of dismissals and outsourcing, the number of employees shrank within the last three years from 1700 to 750.

Amid speculation on DDVG's complaints about too friendly articles on the new left party "Die Linke" and its plan to sell the majority of its shares (see article in the newspaper Junge Welt from August 30, 2007) Dr. Wolfgang Storz's term as editor-in-chief ended abruptly on May 16, 2006. The appointed next editor-in-chief was Dr. Uwe Vorkötter (effective July 1, 2006). Only a few days later, on July 18, 2007, the DDVG announced that it would sell 50 percent plus one share to the independent publishing company DuMont Schauberg based in Cologne, Germany. Today, DuMont Schauberg holds 50 percent plus one share, the DDVG owns 40 percent and the Karl-Gerold-Foundation holds 10 percent of the newspaper.