Media group
Axel Springer completes acquisition of US media group Politico
The Axel Springer high-rise in Berlin. Photo: Christoph Soeder / dpa
© dpa-infocom GmbH
The media group Axel Springer has completed the largest takeover in the company’s history. The authorities have approved the deal.
The media group Axel Springer has completed the purchase of the US media group Politico. Springer announced in Berlin: “The transaction was successfully completed after receiving all the necessary regulatory approvals and in accordance with the terms of the agreement announced on August 26, 2021.”
Springer wants to grow faster in its digital businesses. The acquisition of the US media group Politico is, according to the Berlin media company, the largest takeover in the company’s history. Springer sees a growth market in the USA. The group is now 100 percent owner of the US media group.
Springer bought the company from Politico founder Robert Allbritton. A purchase price was not mentioned. The flagship of the US media group is the digital journalistic brand of the same name, Politico, which primarily reports on political issues.
Springer boss Mathias Döpfner said of the deal that was successful: “We have always firmly believed that there can be successful business models for digital journalism.” Politico is a prime example. “The strong growth and high profitability with a diversified sales base attest to the company’s success. We will work together to further increase the growth potential of Politico and to expand the offer internationally. “