Axel Springer buys 88 percent of Business Insider: Reuters

(Reuters) — German publisher Axel Springer said on Tuesday it would buy 88 percent of news website Business Insider valued at $343 million. Springer, which earlier this year missed out on buying the Financial Times newspaper from Pearson, said it already owns about 9 percent of the website, which has 76 million monthly visitors. Amazon Inc-founder and chief executive Jeff Bezos will hold the rest of the shares via his personal investment company Bezos Expeditions, Springer said in a statement.

Read the rest here:
Axel Springer buys 88 percent of Business Insider: Reuters