Home » News » Business » German Media Giant, Axel Springer Spends $442 M To Buy Business Insider
axel springer

German Media Giant, Axel Springer Spends $442 M To Buy Business Insider

The German publishing power house Axel Springer made an announcement today that it has acquired New York City based business news publisher Business Insider for $442 million.

Check also:   Intel buys Altera for $16.7 billion

Business Insider has an audience of over 70 milllion unique visitors every month, this will be wonderful to Axel Springer were by it will be able to grow its reader base to approximately 200 million globally.

Axel Springer already owns 9 percent.

Today it has signed an agreement to purchase an addition of 88 percent of Business Insider’s shares , holding the majority stake of 97 percent and this will make it to be one of the largest news publishers in the whole world.

The $442 million is the purchase price cash valuation of 100 percent of Business Insider, so Axel Springer has acquired 88 percent shares and paid $343 million, so the CEO of Amazon, Jeff Bezos will take over the remaining shares.

The acquisition of Business Insider means that the German Media Giant will now expand its online reader base and its digital business journalism will be boosted world wide especially in English speaking countries, according to the CEO of Axel Springer, Mathias Döpfner.

Check also;

This is not a Paywall, but Newslex Point's journalism consumes a lot of time, hard-work and money. That's why we're kindly requesting our readers to support us in anyway they can, for as little as $1 or more, you can support us .

Please use the button below to contribute to Newslex Point, Inc. using a credit card or via PayPal.

Donate Button with Credit Cards

Comments

comments

Loading...

About lukwago J

Posted by LUKWAGO. J: He's a writer, editor, blogger, affiliate and a web developer, he loves thinking creatively and finding new ways to implement different programming ideas.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Loading...
x

Check Also

Lugogo New Bar Excites Kampala's Party Animals

Lugogo’s New “Prancing Porny” Excites Kampala’s Party Goers

Latest search revealed a new hangout place called “Prancing Porny”, which is located along Lugogo ...