Axel Springer Acquires Bisnow
German media powerhouse Axel Springer has acquired Bisnow, a leading media and events business focused on the commercial real estate industry. The deal, backed by private equity firm The Wicks Group, marks a significant consolidation in the B2B media space.
The Wicks Group initially acquired Bisnow in May 2016 for an estimated $50 million. Founded in 2005 by Mark Bisnow, the company grew into a major commercial real estate news and events platform, operating in 30 cities with 650,000 subscribers by the time of the 2016 sale. This acquisition is part of Axel Springer's broader strategy of expanding its footprint in the U.S. market, particularly in digital media. The German media giant has previously acquired other American companies, including Business Insider, Politico, and Morning Brew, investing over $1.5 billion in these assets. Under the new structure, Bisnow will join Morning Brew Inc. within the newly created Brew Media Group. Both Bisnow and Morning Brew will continue to operate as separate and independent companies. Robert Dippell, the current CEO of Morning Brew Inc., will lead the new parent group. Axel Springer's digital-focused strategy has been driven by CEO Mathias Döpfner since 2002. The company has been aggressively moving away from traditional print, with over 85% of its revenue generated from digital operations in 2023. This transformation was significantly accelerated by a partnership with U.S. private equity firm KKR, which began in 2019.
