Axel Springer Buys Bisnow Media

This acquisition is part of Axel Springer's broader strategy to expand its portfolio of U.S. media assets, which already includes major brands like Business Insider, Politico, and the newsletter-focused Morning Brew. The German media conglomerate has been actively investing in English-language digital journalism to grow its global reach. Bisnow will be integrated into a newly formed entity called Brew Media Group, which will also house Morning Brew. This move suggests a strategy to create a powerful B2B media collective. Robert Dippell, who currently leads Morning Brew as CEO, will oversee the new group, while Bisnow's current CEO, Gregg Mayer, and his executive team will continue to manage Bisnow's operations. The deal marks an exit for The Wicks Group, a private equity firm that acquired Bisnow in 2016 for an estimated $50 million. Under Wicks' ownership, Bisnow expanded its reach to 47 local markets across the U.S., Canada, the UK, and Ireland, hosting over 400 live events annually. Axel Springer has a history of making significant investments in digital media, including the acquisition of Business Insider in 2015 for $442 million and Politico in 2021 for over $1 billion. These purchases highlight the company's focus on "digital first, digital only" acquisition strategy and its ambition to become a leading transatlantic media company.