The following was sent out from odwyerpr.com:
Axel Springer, the German media company that also owns such US-based properties as Politico, Insider and Morning Brew, is looking to get out of the print business altogether.
Mathias Döpfner, the company’s chief executive, said in note to staffers that print versions of the company’s newspapers (which include Europe’s biggest-selling tabloid, Bild) would be eliminated in coming years. “Journalism on printed paper will no longer exist at some point—our printed newspapers will also cease to exist,” Döpfner said.
He added that artificial-intelligence products would take over from the some of the company’s journalists. This all comes as Axel Springer posts positive financials. The Wall Street Journal reports that in 2022 the company’s sales jumped 13 percent to €3.9 billion ($4.2 billion).
