Germany’s Axel Springer to acquire Politico, Protocol

Germany publishing company Axel Springer says it has signed a deal to buy the U.S.-based political news site Politico and the tech news site Protocol from founder Robert L. Allbritton for an undisclosed sum. Axel Springer said the purchase will increase the publisher’s reach in the United States, where it already owns online media company Insider and the business-oriented Morning Brew. Under the deal announced Thursday, the German publisher will acquire the remaining 50 percent stake in Politico Europe it didn’t already own. Allbritton says he will continue as publisher of Politico and Protocol. Axel Springer says the leadership teams of both sites will remain in place and operate separately from the company’s other U.S. brands.