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Mathias Döpfner, CEO of Axel Springer
Photo: Kay Nietfeld / dpa
Axel Springer (»Bild«, »Welt«) has signed an agreement to buy in full the US news company Politico and the news website Protocol, which specializes in the technology sector.
The Berlin media company announced this in the afternoon.
The »Handelsblatt« had previously reported on it.
“The potential is generally huge.
We are convinced that we have acquired the company at an attractive price, «said Mathias Döpfner, CEO of Axel Springer, the business newspaper.
Springer has been running the Politico Europe joint venture with Robert Allbritton, the US company led by Robert Allbritton, since 2014.
As part of the transaction, Springer will also take over Politico's 50 percent stake in the European subsidiary.
Both parties are said to have agreed not to disclose the purchase price.
Robert Allbritton remains publisher of Politico and Protocol, according to a press release from Springer.
The publishing and editorial management teams of Politico in the USA, Politico Europe and Protocol would continue their work and manage the respective publications separately from the other Axel Springer brands headquartered in the USA, according to the Berlin company.
The news company Politico was founded 15 years ago and employs more than 500 journalists.
There has long been speculation about Springer's interest in Politico.
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