German billionaire Matthias Döpfner and private equity group KKR are in talks to break up media conglomerate Axel Springer. The Financial Times reported. on Thursday, citing four people familiar with the matter.
Under the terms of the separation, Axel Springer’s largest stakeholder, KKR and the Canada Pension Plan Investment Board, will control a portfolio of classified advertising websites that includes recruitment platform StepStone and real estate advertising unit Aviv, according to the report.
Axel Springer CEO Döpfner and the company’s founder’s widow, Friede Springer, will reportedly have greater control over the group’s media assets.
KKR and Axel Springer did not immediately respond to Reuters requests for comment.
Axel Springer is a global news publisher with brands such as POLITICO, Business Insider, BILD and Die Welt.
