German publisher Springer to invest in Thrillist Media Group

AP News
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Posted: Sep 30, 2015 10:45 AM

BERLIN (AP) — German publisher Axel Springer SE says it plans to buy a minority stake in Thrillist Media Group, the second U.S. investment plan it has announced this week.

A statement Wednesday from Springer, the publisher of Germany's mass-circulation Bild newspaper and broadsheet daily Die Welt among other titles, didn't specify the size of the stake it will take in New York City-based TMG or the value of the deal.

TMG operates the lifestyle portal Thrillist. Springer CEO Matthias Doepfner said the investment is "a further step we are taking to expand our global footprint as a digital publisher, especially in English-language markets."

Springer said Tuesday that it will buy 88 percent of the Business Insider news website for $343 million.