The media conglomerate currently owns German publications Bild and Die Welt, along with US sites Business Insider and Politico. The company also unsuccessfully tried to buy the Financial Times in 2015.
German billionaire Mathias Döpfner and private equity group KKR are planning to reorganise the media firm Axel Springer, reported the Financial Times.
According to current proposals, Axel’s CEO Döpfner and Friede Springer, the widow of the company’s founder, could take more responsibility for the group’s media properties.
The firm’s online listings sites, meanwhile, could be taken over by KKR and the Canada Pension Plan Investment Board. These companies hold the largest combined shareholding in Axel Springer.
The media conglomerate currently owns German publications Bild and Die Welt, along with US sites Business Insider and Politico. The company also unsuccessfully tried to buy the Financial Times in 2015.
Two of the FT’s sources claimed that Axel Springer’s online listings business is more profitable than its media business, meaning that Döpfner’s camp may seek extra compensation.
Platforms under this umbrella include jobs portal StepStone and real estate sites AVIV, SeLoger, Immowelt, and Immoweb.
The same sources suggested that KKR is preparing its exit from Axel Springer by taking over the listings business.
This comes five years after the private equity company partnered with Döpfner to delist the media conglomerate.
Both groups have said they will not comment on market speculation.