• by Ray Schultz , September 19, 2024

Axel Springer has confirmed reports that it is splitting off its classified business and will be a privately owned media company for the first time since its IPO in 1985.  

KKR and CPP, outside investors, will take over the classified business.  

The final agreement will occur in the months to come, and will close in Q2 2025. 

Friede Springer and Mathias Döpfner will hold close to 98% of Axel Springer. Axel Sven Springer, a grandchild of the company founder, will retain the remaining shares. 

Axel Springer’s media businesses include Bild, Business Insider, Politico, Welt, idealo, Bonial, Morning Brew, Dyn Media, eMarketer, and the joint venture Ringier Axel Springer Poland. 

Delisted from public markets in 2020, Axel Springer has gained expertise and investments from shareholders totaling over EUR 1.9 billion. The firm recorded double-digit growth in 2021 and 2022; the company recorded double-digit top-line growth.  

In 2023, over 85% of the company’s revenue was generated from digital sources, with EUR 2 billion in revenue resulting from its media businesses worldwide.

“Before we began our partnership with KKR five years ago, Friede Springer and I had an idea of how the company could ideally look like down the road,” says Mathias Döpfner, CEO of Axel Springer. “That vision is now close to becoming reality.”

"After a long and productive partnership, this natural next step for the Axel Springer group is a great outcome for all stakeholders involved,” says Henry Kravis, co-founder of KKR.

The New York Times reports that Axel Springer is valued at roughly $15 billion, with its publishing assets worth about $4 billion.