Axel Springer Splits To Cement CEO's Control Over Media Assets

German media giant Axel Springer to split between CEO Mathias Doepfner and private equity firm KKR. The deal gives Doepfner control of Bild and Politico, while profitable classifieds businesses will be owned by KKR and CPP Investments. A final agreement is expected in the coming months.

In a significant restructuring move, German media behemoth Axel Springer will divide its operations between CEO Mathias Doepfner and private equity firm KKR, the company announced on Thursday. This strategic deal secures Doepfner's control over major news titles Bild and Politico.

The profitable classifieds segments of Axel Springer will now be held separately, primarily under the ownership of U.S. firm KKR and Canada's CPP Investments. Although the company has not disclosed its overall valuation, sources indicate a current market value of approximately 13.5 billion euros ($15 billion).

A spokesperson confirmed that a conclusive agreement is anticipated within the next several months, with the transaction set to be finalized by Q2 of the upcoming year. The landmark split marks the latest chapter in the storied history of Axel Springer, long a dominant force in German media initiated in 1946 by its eponymous founder in Hamburg.

(With inputs from agencies.)