Politico, the Washington news site popular with Beltway power brokers, is seeking as much as $1 billion in a potential deal with the German publishing giant Axel Springer. Led by its owner, Robert Allbritton, Politico has been in talks with Springer about a potential investment or an outright sale, two people familiar with the matter said. Such a deal would amount to a hefty premium for Politico, which generates about $200 million a year in revenue, they said. A $1 billion deal would amount to five times Politico’s yearly sales. The New York Times Company is valued at about four times annual revenue.

Source: New York Times August 17, 2021 21:47 UTC