Axel Springer Acquires Real Estate Media Co. Bisnow
German media giant Axel Springer has acquired Bisnow, a prominent commercial real estate media and events company. The deal marks a significant consolidation in the B2B media space, with Bisnow previously backed by private equity firm The Wicks Group.
The private equity firm The Wicks Group originally acquired Bisnow in May 2016 for an estimated $50 million. At the time of that sale, Bisnow operated in 30 cities with 650,000 subscribers and hosted 300 events annually. Founded in 2005 by Mark Bisnow, the company grew into a major producer of commercial real estate news and events. By 2013, Bisnow was already generating nearly $14 million in revenue, with about two-thirds of that coming from event ticket sales and sponsorships. More recent estimates place the company's annual revenue around $54.3 million. This acquisition continues Axel Springer's aggressive expansion into the U.S. media market. The German company previously purchased *Business Insider* in a 2015 deal that valued the company at $442 million and acquired *Politico* in 2021 for over $1 billion. The move follows a major corporate restructuring for Axel Springer in September 2024. The company, in partnership with private equity firm KKR, separated its media assets—like *Politico* and *Business Insider*—from its digital classifieds business to focus on building a transatlantic digital news powerhouse. Under its new parent company, Bisnow will join Morning Brew Inc. in the newly formed Brew Media Group. However, both Bisnow and Morning Brew will continue to operate as separate and independent companies.
