Deals
Axel Springer Abandons Russia Before Media Rules Take Effect
- Europe’s biggest newspaper publisher sells after 11 years
- Putin’s media law will tighten controls over publishing
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Axel Springer SE, Europe’s biggest newspaper publisher, became the latest foreign company to abandon Russia as President Vladimir Putin’s media law tightens control over broadcasting and publishing in the country.
Berlin-based Axel Springer agreed to sell its Russian businesses to publisher Alexander Fedotov’s Artcom Media after 11 years in the country. The portfolio consists of titles including Russia’s Forbes and OK! magazines.