Axel Springer will buy US news website Politico for over $1 billion to acquire US media website A.S. News for more than $1 million

Axel Springer will buy US news website Politico for over $1 billion to acquire US media website A.S. ...

According to a source familiar with the subject, Axel Springer will acquire Politico in if he acquires Politics in an agreement valued the American political news website at over $1 billion.

The firm announced the transaction on Thursday, but not publicly stated the terms. This was Axel Springer's biggest acquisition, as the German publisher ties together a worldwide network of digital news operations.

Springer will also acquire the remaining 50% part of its joint venture Politico Europe in the future, according to its 2015 deal to buy Business Insider and a 2020 deal with Morning Brew, acquiring p.m. in entrepreneur newsletter platform Morningbrew.

Following the transaction, which is expected to end by the end of this year, Robert Allbritton, the owner of Politico, will remain the publisher of the website.

Deservors from the Washington Post were able to write about Washington and politics ahead of the 2008 presidential elections, allowing Politico to be incorporated into the magazine ahead ahead, with the aim of covering Washington with pace, analysis, and rigor in sports journalism.

Springer is the owner of a slew of news outlets, including Bild, Welt, and Insider, with ties to over 40 countries.

KKR, a US private equity firm that owns approximately 48% of Springer, has been building up its portfolio of digital and media assets while in the German media conglomerate.

Separately, two people familiar with the situation told CNBC that Springer was no longer in talks to buy digital news outlet Axios, which was founded by Politico co-founder Jim VandeHei.

Springer and Axios declined to comment.

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