Axel Springer Acquires Bisnow
German media giant Axel Springer has acquired Bisnow, a major commercial real estate media and events company. The deal marks a significant expansion for Axel Springer into the B2B events space, with investment bank BrightTower advising on the sale.
This acquisition is part of Axel Springer's aggressive expansion into the U.S. digital media market, following its high-profile purchases of Politico for over $1 billion and Business Insider for $442 million. The German media firm has been strategically buying established, English-language brands to grow its global footprint. The seller, private equity firm The Wicks Group, acquired Bisnow in May 2016 for an estimated $50 million. Founded in 2005, Bisnow has grown into a significant player in the commercial real estate sector, with an estimated annual revenue of $54.3 million. Bisnow's business model is a hybrid of digital media and live events, hosting more than 400 events each year in 47 local markets across the U.S., Canada, and Europe. A significant portion of its revenue has historically come from event ticket sales and sponsorships, in addition to digital advertising. Under the new ownership, Bisnow will join another Axel Springer property, Morning Brew, in a newly formed "Brew Media Group." Both companies will continue to operate independently, with the new group structure aimed at accelerating growth and innovation across their platforms. The head of the new Brew Media Group, Robert Dippell, brings direct experience with the acquired company, having previously served as Bisnow's Chief Revenue Officer and Executive Advisor before becoming CEO of Morning Brew Inc. Bisnow's current CEO, Gregg Mayer, and the existing executive team will remain in their roles. The deal comes shortly after Axel Springer underwent a major corporate restructuring, separating its media assets from its classifieds businesses in a €13.5 billion deal with private equity firm KKR. [cite: 1, 22,
