Axel Springer in Advanced Talks to Sell Politico to Its U.S. Management
Mathias Döpfner, the chief executive of Axel Springer, is in advanced talks to sell Politico to its U.S. management team, according to people with knowledge of the matter.
The deal could be announced as early as next week, the people said, asking not to be identified because the discussions are private. Representatives for Axel Springer, Politico and KKR declined to comment. A deal would mark a major shift for Politico, which was founded in 2007 and has become one of the most influential political news organizations in the U.S.
Axel Springer, a German media company, acquired Politico in 2015 for $1 billion. Under Döpfner's leadership, Axel Springer has been expanding its international presence, particularly in the U.S. In 2020, Axel Springer acquired a majority stake in Morning Brew, a popular business newsletter.
The potential sale of Politico comes as the media industry grapples with the rise of digital media and the decline of print advertising. Many traditional media companies have been struggling to adapt to the changing landscape, and some have been forced to sell off assets or merge with other companies.
Axel Springer is one of the largest media companies in Europe, with operations in more than 40 countries. The company owns a variety of media assets, including newspapers, magazines, websites and television channels. In recent years, Axel Springer has been investing heavily in digital media, and the sale of Politico could be a sign that the company is doubling down on its U.S. operations.
Politico is a leading provider of political news and analysis. The company's website attracts more than 20 million unique visitors per month, and its newsletters have a combined subscriber base of over 1 million. Politico has also been expanding its reach into television, with a nightly news program on PBS and a streaming service called Politico Playbook.
The sale of Politico would be a major coup for the company's U.S. management team. The team, led by CEO Patrick Steel, has been credited with turning Politico into a profitable and influential news organization.
If the deal goes through, it would be the latest in a series of high-profile media acquisitions. In recent months, Amazon has acquired MGM Studios and AT&T has sold CNN to Discovery Inc.
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