(Reuters) – German publisher Axel Springer said on Thursday it will acquire U.S political news website Politico, including the remaining 50% share of its joint venture Politico Europe.
Politico was expected to fetch $1 billion, according to a New York Times report before the deal was announced, which cited sources.
Robert Allbritton, founder of Politico, will continue as publisher of Politico and Protocol following the deal, which is expected to close by end of this year.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber)
