Der Spiegel's most influential political magazine German news. In 1970, its founder Rudolf Augstein gave 50% ownership stake to its employees and sold another 25% to rival publisher Gruner + Jahr, but retained considerable control over their lives, specified in the Constitution, that every important business decision would require 76% shareholder approval. When Augstein died in 2002, but his co-owners carry out version of the same statute gave them to purchase 0.5% of the shares of each of the heirs Augstein, who thus lost their right of veto. In September 2007, the benefits and costs of sharing ownership with employees has become particularly important when employees blocked the proposal of the Director for the acquisition of 50% of the Financial Times Deutschland. Faced with the new balance of power, the eldest son of Jacob Rudolf Augstein forced to rethink the role that the family can play in Spiegel go forward. If he tries to redeem the key rate? Sale of the family as a whole? But to whom and at what price? "Hide
by Belen Villalonga, Daniela Beyersdorfer, Vincent Dessain Source: Harvard Business School 24 pages. Publication Date: February 26, 2008. Prod. #: 208096-PDF-ENG
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