from right to left: Dr. Dirk Schweitzer, CEO of Splendid Medien AG and Managing Director of Splendid Film GmbH © Splendid Medien AG; Jonas Haentjes, CEO Edel and Alexander Welzhofer, Managing Director of WVG (c)Timo Jäger
press release
Edel acquires majority stake in WVG Medien from Splendid Medien AG - continuation of physical home entertainment distribution for the Splendid Group
from right to left: Dr. Dirk Schweitzer, CEO of Splendid Medien AG and Managing Director of Splendid Film GmbH © Splendid Medien AG; Jonas Haentjes, CEO Edel and Alexander Welzhofer, Managing Director of WVG (c)Timo Jäger
Published Sep 28, 2023
(Cologne, September 28, 2023) - Edel SE & Co, KGaA will acquire a majority stake in WVG Medien GmbH from Splendid Medien AG with effect from October 1, 2023. WVG Medien will - now newly under the umbrella of Edel SE, but as before under the management of Alexander Welzhofer - continue distribution for the physical home entertainment programs (Blu-ray and DVD) of Splendid Group companies Splendid Film GmbH and Polyband Medien GmbH. The agreement also applies as before to Germany, Austria and Switzerland.
In the past, WVG Medien had already made use of the extensive distribution, sales and service capabilities of the Edel Group. This cooperation will be further intensified by the acquisition in order to realize joint cost efficiencies in physical music and entertainment distribution.
Dr. Dirk Schweitzer, CEO of Splendid Medien AG and Managing Director of Splendid Film GmbH: "The bundling of distribution capacities in the physical home entertainment business is a sensible step for both the Splendid Group and Edel. We look forward to continuing our proven cooperation with WVG Medien in the new setup."
Alexander Welzhofer, Managing Director of WVG Medien: "The long- standing, trusting cooperation with the Edel Group as the new owner of WVG Medien and the Splendid Group as a long-standing customer fills us with great pride. On both sides are companies that have always placed more importance on what they have in common than what separates them. Our experienced team looks forward to serving the needs of our retail partners and customers in the best possible way, as usual."
Jonas Haentjes, CEO of Edel SE & Co KGaA: "We are pleased to announce the acquisition of WVG Medien GmbH today. This strategic decision will strengthen our position in the physical distribution market and enables synergies in a changing market. We would like to emphasize that nothing significant will change for WVG's customers and partners."
About edel
Edel is one of Europe's leading independent music companies, with a further focus on books and home entertainment. Edel offers artists, authors, labels, publishers and other rights holders a unique range of products and services. For this purpose, Edel takes all steps from marketing to digital and physical distribution to the production of records, CDs, DVDs and Blu- rays as well as books.
About WVG Medien
WVG Medien GmbH supports renowned domestic and foreign film rights holders in the development and marketing of their entertainment products. The company is one of the largest independent DVD and Blu-ray distribution organizations in the German-speaking region. Effective October 1, 2023, WVG Medien GmbH will be wholly owned by Edel SE & Co., KGaA, Hamburg. http://wvg-medien.com/
Dr. Dirk Schweitzer, CEO of Splendid Medien AG and Managing Director of Splendid Film GmbH: "The bundling of distribution capacities in the physical home entertainment business is a sensible step for both the Splendid Group and Edel. We look forward to continuing our proven cooperation with WVG Medien in the new setup."
Alexander Welzhofer, Managing Director of WVG Medien: "The long- standing, trusting cooperation with the Edel Group as the new owner of WVG Medien and the Splendid Group as a long-standing customer fills us with great pride. On both sides are companies that have always placed more importance on what they have in common than what separates them. Our experienced team looks forward to serving the needs of our retail partners and customers in the best possible way, as usual."
Jonas Haentjes, CEO of Edel SE & Co KGaA: "We are pleased to announce the acquisition of WVG Medien GmbH today. This strategic decision will strengthen our position in the physical distribution market and enables synergies in a changing market. We would like to emphasize that nothing significant will change for WVG's customers and partners."
About edel
Edel is one of Europe's leading independent music companies, with a further focus on books and home entertainment. Edel offers artists, authors, labels, publishers and other rights holders a unique range of products and services. For this purpose, Edel takes all steps from marketing to digital and physical distribution to the production of records, CDs, DVDs and Blu- rays as well as books.
About WVG Medien
WVG Medien GmbH supports renowned domestic and foreign film rights holders in the development and marketing of their entertainment products. The company is one of the largest independent DVD and Blu-ray distribution organizations in the German-speaking region. Effective October 1, 2023, WVG Medien GmbH will be wholly owned by Edel SE & Co., KGaA, Hamburg. http://wvg-medien.com/
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