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Springer cancels galas due to recession

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Springer cancels galas due to recession
photo: DPA
11:57 CET+01:00
Due to the worsening economy, the Axel Springer Verlag, one of Europe's biggest and wealthiest publishing houses, is canceling major gala events in 2009, possibly including the awarding of its annual Golden Camera television awards, a company spokesperson said Saturday.

The Berlin-based Springer Verlag, which publishes the national dailies Bild, Die Welt and a host of magazines and local newspapers, said it planned to cut back on the events in order to spare employees and journalists from possible job cuts.

Some of the other prominent events that will likely be stricken include the Bild Media Prize, the “A Heart for Children” charity gala, the Golden Steering Wheel award from Bild am Sonntag, and the Sport Bild awards.

The live broadcast of the Golden Camera ceremony is planned for the 4th of February from Springer's Berlin headquarters. There is no word on what impact Springer's decision will have on the awards.

Springer has over 10,000 employees across Europe and had over €2.5 billion worth of sales in 2007.

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