Axel Springer Buys Bisnow
German media giant Axel Springer has acquired Bisnow, a major commercial real estate media and events company. The deal, backed by private equity firm The Wicks Group, signals continued consolidation in the B2B media landscape.
The acquisition places Bisnow within a newly formed "Brew Media Group" at Axel Springer, alongside the business newsletter Morning Brew. Bisnow will operate as an independent company, and its current executive team, including CEO Gregg Mayer, is expected to remain in place. This deal continues a significant American expansion for the German media conglomerate. Axel Springer previously acquired Business Insider in 2015 for $442 million, Morning Brew in 2020 for a reported $75 million, and the political news outlet Politico in 2021 for over $1 billion. Private equity firm The Wicks Group had owned a majority stake in Bisnow since May 2016, when it acquired the company for a reported $50 million. At the time of that sale, Bisnow operated in 30 cities and hosted around 300 events annually. Today, Bisnow hosts more than 400 events each year across 47 markets in the U.S., Canada, the UK, and Ireland, reaching an audience of over 11 million readers. The company's estimated annual revenue is approximately $54.3 million. The purchase follows a major strategic shift for Axel Springer. In late 2024, the company finalized a deal to separate its media assets from its digital classifieds businesses, positioning itself to focus on building a transatlantic digital journalism powerhouse.
