New York (CNN Business) Axel Springer, the German media conglomerate, has agreed to buy the Washington-based Politico franchise for more than $1 billion. Politico's tech news sibling Protocol is also included in the deal, which was announced Thursday morning. Axel Springer and Politico already work together on a joint venture in Europe. Building on that connection, the two sides started to talk in earnest about a deal earlier this summer. Between Politico's operations in North America, its joint venture in Europe, and Protocol, the company says it employs more than 500 journalists.

Source: CNN August 26, 2021 13:29 UTC