Posted on 08/26/2021 8:05:52 AM PDT by dynachrome
German publisher Axel Springer announced Thursday that it plans to acquire digital media site Politico. The companies did not disclose a price for the deal, but a person familiar with the matter said Politico sold for about $1 billion.
Spokespeople for Axel Springer and Politico did not respond to a request for comment on the deal’s valuation.
The acquisition grows the publishing group’s portfolio in the U.S. further, adding to its ownership of Insider and Morning Brew. Axel Springer is the German publishing giant behind major news outlets like Bild and Die Welt in that country. It recently went private and continues to invest in U.S. digital media companies.
Axel Springer and Politico were already in a joint venture partnership since 2014, when Politico Europe launched, according to a press release. That news site has been profitable since 2019, the announcement said.
(Excerpt) Read more at cnbc.com ...
Politico is anti-American as hell anyway. They might as well be owned by someone else.
It’s amazing how a web site can be worth a billion dollars. I would not pay 50 bucks for a web site.
This sounds like money laundering to me...
Freshfields, Pillsbury Guide Axel Springer's $1B Politico Buy
To boost Polutico's policy coverage??
Looks like Deep State are consolidating control of their enemediot outlets. And maybe laundering money while they're at it...?
Hengeler Mueller / Freshfields Squeeze-out at the Springer media group
Suckers!
Still, not as stupid as Verizon, who bought Huffington Post for $4.4 billion and then took a $4.6 billion right-down 5 years later
Politico is no better than any other liberal blog.
Politico is worth a billion dollars?
On what planet is that?
Ten years ago....the Huffington Post sold to AOL for $315 million ($374 million today).
When AOL dumped it to Buzz Feed in 2020, they sold it for $119 million.
Within five years, I expect Buzz Feed to dump it for less than $25 million.
Same thing probably will occur with Politico. It’s all an imaginary amount of money that they place on content and value.
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