Media concern Axel Springer has agreed to purchase Politico. The deal is estimated to be $ 1 billion

Media Concern Axel Springer reportedthat agreed to buy the American media company Politico, which publishes the newspaper of the same name, a magazine and a number of websites. Axel Springer entered into a corresponding agreement with the owner of Capitol News Company, Robert Allbritton, whose company owns Politico.

Axel Springer will also own the technology news site Protocol and take over the remaining 50% of Politico Europe, which was founded in 2014 by Axel Springer and Politico, according to the group’s website.

The deal is expected to close in the fourth quarter of 2021. Its amount has not been officially disclosed. The Wall Street Journalist Ben Mullin on Twitter wrotethat Axel Springer will pay more than $ 1 billion, the same estimate named source of the TV channel CNBC.

Axel Springer publishes over 150 newspapers and magazines, including the newspaper Die Welt, the Bild tabloid and others. In the United States, the media group owns Insider Inc., as well as the publisher of Morning Brew newsletters.