“Axel Springer in Talks to Buy Stake in Politico”

From a Wall Street Journal story by Benjamin Mullin headlined “Axel Springer in Talks to Buy Ownership Stake in Politico”:

Axel Springer is in talks to purchase an ownership stake in Washington, D.C., publisher Politico…a deal that would consummate a yearslong relationship between the two companies.

The deal talks aren’t final and could still fall through. The talks also include the possibility of a full buyout.

The German publisher teamed up with Politico in 2014 to launch Politico’s European edition the following year in a 50/50 joint venture. The operation is based in Brussels with offices throughout the continent.

Axel Springer, which owns the German newspapers Bild and Die Welt, has been adding to its U.S. media holdings. The company purchased Business Insider in 2015 for about $500 million and recently bought Morning Brew, a digital publisher that has focused largely on business.

Launched in 2007, Politico reshaped Washington coverage with its blanket reporting on all things political, rapid-fire blog posts, morning email blasts and in-depth tracking of elections and legislative happenings. That later paved the way for a move toward events and high-price subscription services….

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