Politico Sale Nets Fortune for Washington Media Mogul Allbritton
This article is for subscribers only.
German publishing group Axel Springer SE’s planned purchase of news website Politico for more than $1 billion would benefit one of the lesser-known U.S. media moguls, Robert Allbritton.
Allbritton, 52, is the son of Joe Allbritton, a Texan who made money in real estate and finance and began accumulating Washington media properties in the 1970’s. Robert began running the family media businesses in 1996 when he was four years out of college, according to a 2009 profile in the Washingtonian. Joe died in 2012.