Politico to be acquired by Axel Springer, a German publisher

Politico, the Washington news site that thrived for years as Beltway pros gobbled up its indoor baseball-style scoops and reporting, will have a new owner.

German publishing giant Axel Springer has agreed to buy Politico in a deal announced Thursday that could turn Washington’s media scene upside down.

Springer will take control of Politico, its sister site Politico Europe and Politico’s technology news site, Protocol, a relatively new company, the companies said. The New York Times earlier reported that Politico owner Robert Albritton was seeking $ 1 billion for the deal. The companies did not disclose the financial terms.

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