Categories: OLD Media Moves

Axel Springer seeking controlling Business Insider stake

German 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.

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.

Recent Posts

Dynamo hires former Business Insider executive editor Harrington

Former Business Insider executive editor Rebecca Harrington has been hired by Dynamo to be its…

2 days ago

Bloomberg TV hires Kerubo as desk producer

Bloomberg Television has hired Brenda Kerubo as a desk producer in London. She will be covering Europe's…

2 days ago

Jittery CNBC staff reassured by new boss

In a meeting at CNBC headquarters Thursday afternoon, incoming boss Mark Lazarus presented a bullish…

2 days ago

Making business news accessible to a wider audience

Ritika Gupta, the BBC's North American business correspondent, was interviewed by Global Woman magazine about…

2 days ago

Rest of World hires Lo as China reporter

Rest of World has hired Kinling Lo as a China reporter. Lo was previously a…

2 days ago

Bloomberg rises to No. 7 biz news website

Bloomberg News saw strong unique visitor growth to its website in October, passing Fox Business…

2 days ago