Politico in Talks Regarding Investment or Sale
Politico, the Washington news site popular with Beltway power brokers, is seeking as much as $1 billion in a potential deal with the German publishing giant Axel Springer, reports The New York Times.
Led by its owner, Robert Allbritton, states The Times, “Politico has been in talks with Springer about a potential investment or an outright sale, two people familiar with the matter said. Such a deal would amount to a hefty premium for Politico, which generates about $200 million a year in revenue, they said.
“That would make it one of the most expensive media mergers in recent memory. A $1 billion deal would amount to five times Politico’s yearly sales.”
The German publisher, adds The Times, has been actively seeking media properties in the United States. The company acquired Business Insider for around $500 million in 2015, and last year acquired a controlling stake in Morning Brew, a newsletter publisher.
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