Jul 12, 2024 - Business

Axel Springer reportedly weighs company breakup

Dan Primack

Mathias Döpfner — Mathias Döpfne. Photo: Jerod Harris/Getty Images for Vox Media.

Axel Springer of Germany reportedly is weighing a company split.

Why it matters: This would be the breakup of a major media conglomerate, four years after investment groups KKR and CPPIB helped take it private.

KKR and CPPIB would control its classifieds business, while CEO Mathias Döpfner would continue to control the media unit that includes the Bild newspaper, Politico and Business Insider.

Look ahead: It could pave the way for Döpfner to make additional acquisitions, such as if the FT or WSJ went up for sale, and for KKR to begin exiting the more profitable classifieds unit via an IPO.

Go deeper, via the FT: "KKR and CPPIB, which together own 48.5% of Axel Springer, cannot make decisions without Döpfner because of his special governance rights. Döpfner holds about 22% of the equity but has voting rights equivalent to double this share."

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Axel Springer reportedly weighs company breakup

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