Axel Springer Buys CRE Media Firm Bisnow
German media giant Axel Springer has acquired Bisnow, a leading commercial real estate media and events business. The deal, backed by private equity firm The Wicks Group, marks a significant consolidation in the B2B media and events space.
This acquisition continues Axel Springer's aggressive expansion into the U.S. media market. The German publisher previously acquired Politico for over $1 billion in 2021, took full control of Business Insider in a 2015 deal valuing it at $442 million, and bought Morning Brew in 2020. The seller, The Wicks Group, had owned a majority stake in Bisnow since May 2016, when it acquired the company for approximately $50 million. At that time, Bisnow operated in 30 cities with 650,000 subscribers. Bisnow has since grown into a major B2B platform, reaching over 11 million readers and hosting more than 350 events annually across 50 markets in the U.S., Canada, the UK, and Ireland. The company's estimated annual revenue is currently $54.3 million. Under its new owner, Bisnow will be part of a newly formed division called Brew Media Group. This unit will also include the business newsletter Morning Brew, though both companies will continue to operate independently. Robert Dippell, the current CEO of Morning Brew Inc., will lead the new group.
