Thu Sep 19 17:47:00 UTC 2024: ## Axel Springer to Become Family-Owned Again After Splitting Media and Classifieds Businesses

**BERLIN** – German media giant Axel Springer announced a major restructuring on Thursday, splitting its media and classified operations. The move will see Friede Springer, widow of the company founder, and CEO Mathias Döpfner take control of the media business, which includes Germany’s top newspaper Bild and US digital publication Politico.

The classifieds arm, encompassing job portal Stepstone and property website Aviv, will be majority-owned by US private equity firm KKR and Canadian pension fund CPP Investments. Axel Springer will remain a minority shareholder in this division.

The transaction, expected to close in the second quarter of 2025, is subject to regulatory approval. It marks a return to family ownership for Axel Springer, which was listed on the stock market in 1985.

Döpfner, who has been CEO since 2002, has expressed a strong focus on the US market, where Springer aims to expand its presence and become a major publisher. This strategy was evident in the company’s $1 billion acquisition of Politico in 2021.

Döpfner stated that the new structure creates “the best possible conditions for a good future for journalism.” The move is seen as positioning both the media and classified businesses for optimal growth in their respective markets.

The split comes after a five-year partnership between Axel Springer and KKR, which saw the company delist from the stock market in 2020. While the current value of Axel Springer is not publicly known, the Financial Times estimates it to be around €13.5 billion ($15 billion), with over €10 billion attributed to the classifieds business. This suggests a significant increase in value under the KKR partnership.

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