Categories: OLD Media Moves

Axel Springer seeking controlling Business Insider stake

Business InsiderGerman publisher Axel Springer may want to increase its current 7 percent stake in U.S. news website Business Insider, German Manager Magazin reported on Thursday.

Harro ten Wolde of Reuters writes, “Citing unnamed financial sources, the magazine said the publisher of Europe’s biggest daily newspaper, Bild, was willing to pay around 500 million euros for a controlling stake, without elaborating.

“Springer, which earlier this year missed out on buying the Financial Times newspaper from Pearson, has said it wants to invest more in digital assets.

“In January, Springer was the lead investor in a $25 million investment round in Business Insider.

“A number of Silicon Valley and other angel investors hold stakes in Business Insider.

“Axel Springer also owns half of the European edition of online news service and magazine Politico. The publisher’s Chief Executive, Mathias Doepfner, told Manager Magazin that he had no comment on a bigger stake in Business Insider.”

Read more here.

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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