The Berlin-based publisher Axel Springer is considering a subscription model for Business Insider, which it agreed to take over in a $343 million deal in September, writes Stefan Nicola of Bloomberg News.
Nicola writes, “The changes are part of a wider plan by Chief Executive Officer Mathias Doepfner to spend aggressively on digital media, mainly in the English-speaking world. Axel Springer on Tuesday said it raised its stake in New York-based social video producer NowThis Media Inc. to 14.6 percent from 4.3 percent, after leading a $16 million funding round. It’s also backing Thrillist Media Group, a lifestyle portal targeting male readers.
“While Axel Springer is ‘full of optimism’ on its U.S. push, ‘some things will work out while others may fail,’ Doepfner, a former rock music critic, told reporters in Berlin. ‘Money follows attention — hopefully.’
“The publisher also said Wednesday it bought the remaining 15 percent in its digital classifieds unit from General Atlantic LLC for about 465 million euros ($508 million).”
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