Germany: Axel Springer splits media, classified businesses
Friede Springer and CEO Mathias Döpfner will own Springer's media operations, which include Germany's most-read newspaper Bild and US digital newspaper Politico German media giant Axel Springer announced on Thursday that it would split its media and classified operations, with media coming under the wing of Friede Springer and CEO Mathias Döpfner, and classifieds going to US investment firm Kohlberg Kravis Roberts (KKR.) "The new structure is intended to position all business areas optimally for future growth potential and success in their respective markets," the company said. The transaction is expected to close in the second quarter of 2025 and it is subject to regulatory approval. Axel Springer, Germany's most influential media group The company was founded by German businessman Axel Springer in 1946 in the city of Hamburg. Since then, it has grown to be Germany's most influential media group. Springer's widow, 82-year-old Friede Springer, consolidated...