Axel Springer Buys Majority Stake in Business Insider for $343 Million
It’s official. After weeks of rumors, Axel Springer has sealed the deal, announcing that it is purchasing 88% of Business Insider, a digital business news site based in New York City, for $343 million. According to the official announcement, the goal of the acquisition is threefold: 1) broaden Axel Springer’s global reach, 2) diversify the company’s English-language offerings, and 3) enhance its commitment to innovative digital journalism. Prior to the deal, Axel Springer owned 9% of the…
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