Dismantling of Axel Springer: KKR Is Keeping the Classifieds Business

A media colossus under pressure

The dismantling of Axel Springer is almost complete. With the sale of the classifieds business to private equity firm KKR, the transformation from a traditional publishing house to a digital company is now largely complete.

KKR retains the classifieds business

KKR is acquiring StepStone, one of the leading providers of online job boards in Europe. According to the "manager magazin", the purchase price is around 650 million euros.

In addition to the well-known job portals StepStone and TotalJobs, the deal also includes the Irish jobs platform CareerBuilder.it as well as the Romanian BestJobs.ro.

Axel Springer focuses on digital business

The sale of the classifieds business is a further step in the transformation of Axel Springer. The company is increasingly focusing on its digital business, which is performing better than its traditional media activities.

Under CEO Mathias Döpfner, Axel Springer has already sold numerous print titles in recent years and invested heavily in digital offerings.

KKR gains a leading position in the classifieds market

KKR, on the other hand, is expanding its position in the classifieds market with the acquisition of StepStone. The company already owns Scout24, one of the leading providers of online real estate platforms in Germany. With the acquisition of StepStone, KKR is further expanding its portfolio in the growing market for digital marketplaces.