Axel Springer Acquires Stake in Thrillist Media Group, Buys 88% of Business Insider

Oct 01, 2015

It seems that European digital publisher Axel Springer is on a shopping spree. Earlier this week it announced that it had entered into an agreement to buy 88% of New York-city based Business Insider for a reported $343 million. Then, just a day later, it announced it would buy a minority stake in the Thrillist Media Group.

Axel Springer says that these acquisitions will help it increase its English-language ausience, and position it as the sixth largest digital publisher by reach. The company already held a small stake in Business Insider, which brings its total ownership to 97%--leaving just 3% to CEO Jeff Bezos.