Axel Springer Buys Bisnow
German media giant Axel Springer has acquired Bisnow, a leading U.S.-based commercial real estate media and events company. The deal, backed by private equity firm The Wicks Group, expands Axel Springer's footprint in B2B media.
This acquisition marks a significant expansion of Axel Springer's U.S. media portfolio, which already includes major names like Business Insider, Politico, and Morning Brew. The German media giant has been actively investing in English-language digital journalism, with notable purchases including Politico for over $1 billion and Business Insider for around $450 million. The deal represents an exit for private equity firm The Wicks Group, which originally acquired Bisnow in May 2016 for an estimated $50 million. At that time, Bisnow had around 650,000 subscribers and operated in 30 cities. Founded in 2005 by Mark Bisnow, the company differentiated itself with a lighter, more personality-focused approach to business news. Its business model heavily integrates digital newsletters with a lucrative events business, which now hosts over 400 events annually across 47 markets in North America and Europe. Bisnow will now operate under a newly formed entity called Brew Media Group, alongside another Axel Springer property, Morning Brew. Both companies will be run separately, with the structure designed to foster growth and cross-brand innovation in events and digital products. Bisnow's current CEO, Gregg Mayer, and the existing executive team will remain in their roles to guide the company's next phase.
