Axel Springer Konzern: Amicable Separation With All Partners Satisfied
Axel Springer Konzern sells its majority stake in POLITICO to co-owner Comcast
The Axel Springer Konzern has divested its majority stake in POLITICO to its co-owner Comcast. The transaction was announced on January 18, 2023, and closed on February 1, 2023. Under the terms of the agreement, Comcast acquired Axel Springer's 50% stake in POLITICO for $1.05 billion.
Axel Springer initially acquired its stake in POLITICO in 2014 through the purchase of Business Insider. In 2021, Comcast acquired a 30% stake in POLITICO through its acquisition of NBCUniversal. The sale of the remaining 50% stake gives Comcast full ownership of POLITICO.
Axel Springer focuses on core businesses
The sale of POLITICO is part of Axel Springer's strategy to focus on its core businesses in Europe. The company has been divesting non-core assets and investing in its digital operations. In recent years, Axel Springer has acquired several digital media companies, including Business Insider, Upday, and Seznam.cz.
"The sale of our stake in POLITICO is a strategic move that allows us to focus on our core businesses," said Mathias Döpfner, CEO of Axel Springer. "We are confident that POLITICO will continue to thrive under Comcast's ownership."
Comcast expands its news portfolio
The acquisition of POLITICO gives Comcast a leading position in the global news market. POLITICO is a leading source of political news and analysis, with a strong presence in the United States and Europe. The acquisition will complement Comcast's existing news portfolio, which includes NBC News, MSNBC, and CNBC.
"POLITICO is a valuable addition to our portfolio of news brands," said Brian Roberts, CEO of Comcast. "We are committed to investing in POLITICO and helping it to grow its audience and reach."
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