Axel Springer Buys Bisnow
German media giant Axel Springer has acquired Bisnow, a major U.S.-based commercial real estate media and events company. The deal, backed by private equity firm The Wicks Group, marks a significant consolidation in the B2B media landscape.
The acquisition marks a significant expansion for Bisnow, which was purchased by the private equity firm The Wicks Group in 2016 for approximately $50 million. At the time of that deal, Bisnow operated in 28 markets and had 80 employees. Today, the company hosts over 350 events annually in more than 50 local markets across the U.S., Canada, the UK, and Ireland, reaching an audience of 11 million readers. For Axel Springer, this purchase continues an aggressive expansion into the U.S. market. The German media giant previously acquired Politico for over $1 billion in 2021 and took a majority stake in Business Insider in a 2015 deal that valued the company at $442 million. These acquisitions are central to Axel Springer's strategy of investing in English-language digital journalism. The deal was overseen by BrightTower, a New York-based investment banking firm that advised Bisnow. The acquisition is part of a broader trend of consolidation within the B2B media and events industry. Axel Springer itself is backed by the global private equity firm KKR, which became a major shareholder in 2019 in a deal valuing the media company at €6.8 billion. This partnership was designed to accelerate Axel Springer's growth in the digital and international spheres.
