07 March 2019, Berlin: The results for the 2018 financial year were presented at Axel Springer SE’s Berlin headquarters at the media company’s annual press conference. The Axel Springer media house increased its revenues last year thanks to strong digital business. Photo: Bernd von Jutrczenka/dpa (Photo by Bernd von Jutrczenka/picture alliance via Getty Images)
The German media conglomerate Axel Springer has announced it is buying the US media group Politico.
It will be the largest corporate takeover in the company’s history, Springer said in Berlin on Thursday.
An agreement for the complete acquisition was signed with Politico founder Robert Allbritton on Thursday. Springer declined to disclose the price it was paying for the US group when asked.
The best-known part of the US media group is the digital journalism brand of the same name. The deal reportedly still needs to be approved by regulators, though Springer said it expects the transaction to take place in the fourth quarter of this year.
DPA
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