German media group enters negotiations to acquire US political media outlet Politico
[Asia Economy Reporter Kwon Jae-hee] German media group Axel Springer has entered negotiations to acquire the American political media outlet Politico, the Wall Street Journal (WSJ) reported on the 16th (local time).
According to the report, Axel Springer may acquire all shares of Politico, but there is also a possibility that the negotiations could break down.
Robert Allbritton, publisher of Politico, stated in an internal staff notice that he would not comment on potential negotiations but mentioned that they might ultimately seek to merge Politico and Politico Europe.
Politico and Axel Springer have collaborated on joint ventures such as publishing Politico Europe through a 50-50 partnership since 2014.
Politico is a U.S.-based political media outlet launched in 2007.
Axel Springer, a media group owning major German outlets like Bild and Die Welt, acquired Business Insider for $500 million in 2015 and recently expanded its U.S. media holdings by acquiring the online outlet Morning Brew.
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WSJ also cited another source stating that Axel Springer recently entered negotiations to acquire the U.S. online media Axios, but Axios responded negatively.
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