In July 2020, PCP IV provided a five-year EUR 95 million facility to DvH Medien GmbH, headquartered in Stuttgart, Germany. Controlled by long-term media entrepreneur Dieter von Holtzbrinck, DvH Medien is the holding company for his interests in news publishing assets, Handelsblatt, Wirtschaftswoche, Der Tagesspiegel and Die Zeit, with a combined circulation of close to 900,000.
DvH Medien, which employs some 2,200 staff across operations in Berlin, Düsseldorf, Hamburg and Stuttgart owns some of the best performing brands in the German news publishing market. The financing provided by PCP will be used to refinance existing indebtedness and provide additional capital to support management’s digital transformation and subscription led strategy as well as to counter the effects of the Covid-19 pandemic on advertising and events revenues.
In choosing their partner for the next phase of digital market growth, Dieter von Holtzbrinck and his management team partnered with P Capital as they appreciated our long-term commitment to the media sector, as well as our specific experience in digital transformation and media content management. We will work closely with the DvH Medien board to generate value for all stakeholders.