Germany's Axel Springer to acquire Politico, Protocol

Germany publishing company Axel Springer says it has signed a deal to buy the U.S.-based political news site Politico and the tech news site Protocol from founder Robert L

BERLIN -- Germany publishing company Axel Springer said Thursday that it has signed a deal to buy the U.S.-based political news company Politico and the tech news site Protocol from founder Robert L. Allbritton for an undisclosed sum. Axel Springer said the purchase will increase the publisher's reach in the United States, where it already owns online media company Insider and the business-oriented Morning Brew. Under the deal, the German publisher will also acquire the remaining 50% stake in Politico Europe it didn't already own. Axel Springer chief executive Mathias Doepfner said Politico's staff had “disrupted digital political journalism and set new standards.” “Objective quality journalism is more important than ever, and we mutually believe in the necessity of editorial independence and nonpartisan reporting,” Doepfner said in a statement. "This is crucial for our future success and accelerated growth.”