David Montgomery (newspaper executive)
David Montgomery ( born November 6, 1948 in Bangor, Northern Ireland ) is a British media investor. He works as a private equity manager who is committed to in the press.
Life
Montgomery studied Political Science and History at Queen 's University in Belfast. Between 1973 and 1976 he worked as an editor for the Daily Mirror; In 1976 he moved to The Sun, in which he rose to in the editor. In 1980 he left the tabloid. Other employers were Sunday People, News of the World (1982-1987) and Today (1987-1991). In addition to his journalistic work, he also perceived more and more tasks of media management. He was managing director of private television " Satellite Television PLC" (1986-1991) and "London Live TV" (1991 /92).
In the 1990s, he became known as Managing Director of Mirror Group Newspapers (Daily Mirror). After the media entrepreneur and " Pressezar " Robert Maxwell was under still not fully understood may have died in 1991, took over Montgomery in 1992 the management of the British press house. He succeeded despite declining circulation through in the workforce unpopular austerity measures and layoffs than the market value of the company to increase enormously. His business methods earned him critics nicknamed " Rommel ", after the war opponents of his famous namesake, a. In 1999, he was forced to resign after a dispute with the Board.
Today, Montgomery is an investor and forwards, which was founded in 2000 by him Mecom Group, a British investment company that specializes in the media industry. It costs, depending on the political point of view, as " tough renovators " or as the epitome of "Locust "; an investor who generates the yield at the expense of the company and then repels it again.
Group
In Ireland, Montgomery was from 2003 as a consultant to the financial investor 3i operates. This had bought under the investment vehicle Local Press Group, the Northern Irish newspaper publishers Century Press and Publishing and Derry Journal Group. 3i paid for 46.3 million pounds ( 69 million euros ). Montgomery was reported in the press holds a five percent stake in the Local Press Group. Two years later, the Local Press Group is sold again: She went for 65 million pounds in the Johnsten Press from Edinburgh, Montgomery is said to have saved around 900,000 pounds. In Germany Montgomery has been the acquisition of Berliner Verlag, which publishes the Berliner Zeitung and the Berliner Kurier, in October 2005, also known as controversial. David Montgomery, Gina Thomas wrote in faz.net, was regarded as " icy manager, who reveals little about himself and feels it as a weakness to show emotion. " A Review of Montgomery's career showed " that he seems to know no other than freestyle the saving. "
In an interview with the Berliner Zeitung journalists prior to their final adoption Montgomery said: "We are not on quick profits. We strive for the merger of many newspapers in Germany and perhaps even Europe, to achieve synergies. " End of January 2006 took over Montgomery on the BV German newspaper holding the Hamburger Morgenpost.
The Anglo-Saxon media investment group Mecom, led by Montgomery, bought in July 2006, the investments of the Norwegian Orkla Media Group, one of the largest in Scandinavia ( for 970 million euros ).
In January 2009, the Group had to sell at the Cologne publisher M. DuMont due to financial hardships the Berlin publishing house for 152 million euros.