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On Thursday, Axel Springer, the owner of Politico, announced an agreement with its largest shareholder, KKR, to separate its classifieds business from its media assets. This restructuring will see the company's media operations, which include Bild, Business Insider, Politico, Welt, Idealo, Bonial, Morning Brew, Dyn Media, EMarketer, and the joint venture Ringier Axel Springer Poland, remain under the Axel Springer umbrella.
Under the new arrangement, Friede Springer and Mathias Döpfner will hold nearly 98% of the media business, marking a significant consolidation of ownership. Axel Sven Springer, one of the grandchildren of the company’s founder, will retain a reduced portion of shares compared to his previous minority stake.
This change will transform Axel Springer into a fully privately owned media entity for the first time since its initial public offering in 1985. The company’s classifieds business, including entities such as the Stepstone Group, Aviv Group, finanzen.net, and Awin, will be structured as separate joint ventures. In these ventures, KKR and CPP Investments will be the primary shareholders, while Axel Springer will hold a minority share, with the grandchildren of Axel Springer also having an economic stake.
The specific shareholding proportions will be determined as binding agreements are finalized.
Friede Springer, vice chairwoman of the Supervisory Board at Axel Springer, expressed enthusiasm about the change. She noted the company's longstanding achievements and its commitment to journalistic values. According to Springer, the vision to return Axel Springer to a privately owned and operated company has been realized, marking a significant milestone for the organization.
