German publishing group Axel Springer has signed an agreement to acquire Politico, including the remaining 50 percent share of its current joint venture Politico Europe, as well as the tech news website Protocol from Robert Allbritton.
“Politico will complement and strengthen Axel Springer’s portfolio with an authoritative voice offering inside perspective and analysis of politics and policy in Washington D.C., across the U.S., and around the globe,” said an August 26 press release from Axel Springer. “Together with Insider and Morning Brew, which are already part of the company’s portfolio, Axel Springer’s U.S.-headquartered news brands will have a significant reach,” the release said.
Allbritton will continue as publisher of Politico and Protocol.
The deal is valued at over $1 billion, say sources familiar with the matter, according to The Wall Street Journal.
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