Deals
Axel Springer Buys 88% of Business Insider for $343 Million
- Site founded by Henry Blodget lets publisher expand globally
- Amazon.com founder Jeff Bezos to retain minority stake
Business Insider's Disruption of Internet Journalism
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German media company Axel Springer SE agreed to take over Business Insider Inc. in a $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 Tuesday it is purchasing 88 percent of the news site, boosting its stake to about 97 percent. Amazon.com Inc. founder Jeff Bezos will own the remaining 3 percent of the New York-based site, which has 76 million monthly unique visitors.