The Politico media bought by Alex Springer for a billion dollars



Axel Springer expands his empire. After acquiring the French property listings site Seloger.com for the modest sum of 630 million euros, the German press giant is pursuing its digitization strategy with the acquisition of Politico, announced Thursday August 26.

The amount of the transaction was not disclosed by the two parties but it would reach the billion dollars, according to the American site Bloomberg. This makes it the largest acquisition in Springer’s history.

Constant growth

Founded in 2007 by Robert Allbritton, Politico, media specializing in American politics continues to grow. With 400 journalists on staff and a profit margin of 30%, Politico lives a real “ success story “. Its growth is constant and its European branch, founded in 2014, is gaining strength.

→ READ. The recipes of Politico, the American media which wants to conquer Brussels

In Europe, Politico 60% of its income derives from its legislative monitoring tool intended for public policy professionals, whose annual subscription costs € 12,000. Axel Springer already held 50% of Politico Europe since 2015, the current transaction will allow it to obtain all of it.

Highlight everything digital

The German group intends to strongly mark its presence in the United States. Mathias Döpfner, its managing director, wants to make this country the ” main growth driver of [son] editing activity », He explains to the German daily Handelsblatt. In addition to Politico, Springer owns the media Business Insider since 2015 and Morning Brew since 2020.

With its million digital subscribers, Springer’s goal is to promote 100% digital.

With Politico, Mathias Döpfner makes a bet that he thinks is safe: “ We are convinced that we have acquired the company at an attractive price », He assures us. According to him, it is an investment with great potential in a media which has ” jostled the daydigital and established politicalism of new standards “.

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