Axel Springer buys Politico for $ 1 billion

Today, August 26, the German media concern Axel Springer announced the purchase of the American edition of Politico from its founder, Robert Albritton. The company did not disclose the financial terms of the deal, but, according to the American media, citing sources, the deal amounted to $ 1 billion. Axel Springer buys Politico in full, including a 50 percent stake in its European business (the other 50% belonged to the German media concern before ), as well as the Protocol technology news site. The deal is expected to close in the fourth quarter and with the acquisition of Axel Springer, which publishes German newspapers Bild and Die Welt, among others, is expanding its brand portfolio in the United States. The company previously acquired the American business magazine Insider (formerly called Business Insider) and the Morning Brew newsletter service. In 2014, Axel Springer formed a joint venture with Politico to produce the European version of the publication. Now, after the purchase of the American and European versions of Politico, and Protocol are still….

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