Axel Springer AG(AXELF)- Grey Market
  • Sep. 29, 2015, 10:50 AM
    • Germany's Axel Springer (OTC:AXELF) has sealed a deal to buy Web publisher Business Insider, paying $343M for 88% of the operation, subject to antitrust approval.
    • That adds on to its existing 9% stake, taking it to 97%. chief Jeff Bezos owns the rest through his Bezos Expeditions.
    • Axel Springer shares are down 4.1% in German trading.
    • The print giant and publisher of Das Bild says the move will broaden its global reach, increasing its worldwide digital audience by two-thirds to about 200M users.
    • It's a big move into English-language media after Axel Springer failed to buy the Financial Times, losing out to Nikkei in that last-minute bidding.
    • Axel Springer's CEO said on a conference call that Business Insider has yet to turn a profit, and that the company will take a break from acquisitions for now. Founder, CEO and editor in chief Henry Blodget will keep his role, as will COO/President Julie Hansen.
    • Previously: Report: Axel Springer nears deal for Business Insider (Sep. 21 2015)
    | Sep. 29, 2015, 10:50 AM
  • Jul. 23, 2015, 10:18 AM
    | Jul. 23, 2015, 10:18 AM
  • Jul. 23, 2015, 9:49 AM
    • In selling the Financial Times, Pearson (PSO +1%) is in advanced talks with German publisher Axel Springer (OTC:AXELF), and a consensus is building that Springer is the likely buyer in a billion-dollar-plus negotiation.
    • Nikkei has also had talks with Pearson, the Financial Times reports. Pearson is looking at a sale of the Financial Times Group, which includes the newspaper, related titles and a 50% stake in the Economist Group.
    • The move would put Axel Springer -- publisher of Germany's Bild and Die Welt -- into the English-language business. The company has a stake in Politico Europe and has been pursuing a strategic expansion, sources say: “Springer is sitting on a pile of cash and he wants to go big on digital ... He can’t do that in German; he needs an English language publication."
    • Previous reports had Pearson seeking up to £1B for the paper.
    • In Frankfurt, Axel Springer shares are down 1.9%, while in London, Pearson is up 1.8%.
    • Previously: Pearson decides to sell Financial Times (Jul. 23 2015)
    • Previously: Bloomberg: Pearson considering sale of Financial Times (Jul. 20 2015)
    | Jul. 23, 2015, 9:49 AM | 1 Comment
  • Jul. 20, 2015, 11:52 AM
    • Pearson Plc ADRs (NYSE:PSO) aren't blinking, -1.2%, following news the company was exploring a sale of the Financial Times that very briefly spiked shares in London.
    • Shares closed down 1.6% in London trading. Bloomberg reported that Pearson was looking at a sale that could value that business up to £1B ($1.6B), though there's no formal process at work, and Peel Hunt's Alex DeGroote says: "If Pearson can get £1B for the FT I will eat my hat."
    • German publisher Axel Springer (OTC:AXELF) -- currently talking merger with satellite firm ProSiebenSat.1 -- could be a buyer, as could European and Eastern investors.
    • A sale of the newspaper would fit in line with a Pearson that is refocusing on the core education unit.
    • Previously: New York State cutting Pearson testing with new Questar pact (Jul. 09 2015)
    | Jul. 20, 2015, 11:52 AM
  • Jul. 9, 2015, 11:54 AM
    | Jul. 9, 2015, 11:54 AM
  • Jul. 7, 2015, 10:48 AM
    • Axel Springer (OTC:AXELF) has responded to reports of merger talk with satellite broadcaster ProSiebenSat.1 (OTCPK:PBSFF) by saying its majority owner, Friede Springer, wouldn't give up control of the publisher.
    • That doesn't mean a merger still isn't on. Reports are that a tie-up between the publisher and broadcaster would have ProSieben taking a dominant role, but Axel Springer has been pursuing plans to change legal structure to one that would have the Springer family maintaining control even if its stake slips below 50%.
    • The Springer family currently holds about 57% of Axel Springer.
    • The two companies have a combined market cap of nearly €15B, and accounted for combined revenues last year of €5.88B.
    • Previously: German media firms ProSieben, Axel Springer talk tie-up (Jul. 06 2015)
    | Jul. 7, 2015, 10:48 AM
  • Jul. 6, 2015, 4:51 PM
    • Germany's ProSiebenSat.1 (OTCPK:PBSFF) and Axel Springer (OTC:AXELF) are in early merger talks, which would create a company with broadcast and publishing assets and a combined market cap of about $16B, The Wall Street Journal reports.
    • The combination would get a hard regulatory look, though their combined revenues of about €5.9B still trail giant Bertelsmann -- Germany's largest media company, with €16.7B in revenue last year.
    • ProSieben would be the senior partner in this go-round, sources said. Axel Springer tried taking over ProSieben in a 2005 deal valuing the satellite firm at more than €4B, but regulators squelched the agreement. The emergence of digital rivals has changed the landscape since then.
    | Jul. 6, 2015, 4:51 PM
Company Description
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Sector: Services
Industry: Publishing - Periodicals