Axel Springer acquires Business Insider for $442m

Sep29

by Sindy Cator on September 29, 2015 at 11:12 am

Posted In: Acquisition, Around the Web, axel springer, Business Insider, Insider

European publishing house Axel Springer announced today that it’s acquired business news outlet Business Insider for $442 million. New York City-based Business Insider reaches an audience of 78 milllion unique visitors each month. Through the acquisition, Axel Springer will be able to grow its reader base to roughly 200 million worldwide, making it one of the six largest publishers on the planet. The company has signed a binding agreement to purchase approximately 88 percent of Business Insider’s shares using existing credit lines. It already owns nine percent; after this purchase, the company will hold a stake of 97 percent. Amazon CEO…