 In 1969, Bertelsmann acquired shares in the magazine publisher Gruner + Jahr.A merger with Axel Springer, also planned at the time, for which a loan for millions had been taken out temporarily from Westdeutsche Landesbank, failed in 1970.Starting in 1971, Bertelsmann operated as a joint-stock company ("Aktiengesellschaft" or "AG"), becoming Bertelsmann AG.