Some DAPD Divisions File For Insolvency

Posted on 10/15/2012 by Jim Pickerell | Printable Version | Comments (0)

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. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz
Jim Pickerell is founder of www.selling-stock.com, an online newsletter that publishes daily. He is also available for personal telephone consultations on pricing and other matters related to stock photography. He occasionally acts as an expert witness on matters related to stock photography. For his current curriculum vitae go to: http://www.jimpickerell.com/Curriculum-Vitae.aspx.  

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