Axel Springer paying US$343m for 88% of Business Insider
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GERMAN media company Axel Springer SE agreed to take over Business Insider Inc in a US$343 million deal, accelerating its push into English-language news after losing out a bidding contest for the Financial Times two months ago.
Axel Springer said on Tuesday it is purchasing 88 per cent of the news site, boosting its stake to about 97 per cent. Amazon.com Inc founder Jeff Bezos will own the remaining 3 per cent of the New York-based site, which has 76 million monthly unique visitors.
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