The news company Politico has been sold to the German company Axel Springer. Axel Springer is a German publishing company, and it is estimated that Politico was sold for about $1 billion. The companies themselves did not announce the valuation – someone else that was related to the deal announced it. Axel Springer is expanding its ownership of US news companies – it already owns Business Insider and Morning Brew. Before starting talks to buy Politico, Axel Springer was looking to buy Axios, Politico’s rival. But now that a deal has been struck, Axel Springer is no longer trying to buy Axios. The deal is expected to happen in the 4th quarter of the year.
Source: https://www.cnbc.com/2021/08/
