Axel Springer to split media and classified businesses in strategic restructuring

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Axel Springer, Germany's largest media company, has announced plans to separate its media and classified operations. The media division, which includes Germany's Bild newspaper and the US-based Politico, will be owned by CEO Mathias Döpfner and Friede Springer, widow of the company's founder. The classified business, which includes job portal Stepstone and real estate platform Aviv, will be acquired by US investment firm Kohlberg Kravis Roberts (KKR) and Canadian pension fund CPP Investments.

The planned restructuring aims to enhance growth opportunities for both divisions. The transaction is expected to close by the second quarter of 2025, subject to regulatory approval. Founded in 1946, Axel Springer has become a significant media company in Europe and North America, including its 2021 acquisition of Politico as part of its expansion.

This change will make Axel Springer's media division a family-owned entity for the first time since its IPO in 1985. The company will maintain a minority stake in the classified business under the new ownership structure.