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Axel Springer To Acquire U.S. Based Publisher Politico

German media holding company Axel Springer SE (AXELF.PK) said that it signed an agreement to acquire Washington, D.C.-based publisher Politico, including the remaining 50 percent share of its current joint venture Politico Europe, as well as the tech news website Protocol from Robert Allbritton. Both parties have agreed not to disclose the deal terms.

Axel Springer and Politico in the U.S. have been joint venture partners since 2014, when they launched Politico Europe.

Robert Allbritton, Founder and Publisher of POLITICO and Protocol, will continue as publisher of POLITICO and Protocol. The editorial and management leadership teams of POLITICO in the U.S., POLITICO Europe and Protocol will remain in place, and will continue to operate their publications separately from Axel Springer's other brands headquartered in the U.S.

Closing of the transaction is expected in the fourth-quarter 2021.

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