'It was Mathias Döpfner's and my vision that one day, Axel Springer would again be a privately owned and operated company. The realization of this vision now fills me with great joy,' Springer said in a statement.
Döpfner has pushed to modernize and digitize Axel Springer's legacy media brands, while expanding its investment in U.S. digital outlets.
Over 85% of Axel Springer's revenue last year was generated from digital sources and €2 billion in revenue came from its media businesses worldwide.
The agreement would value the whole company at €13.5 billion, with KKR and CPPIB controlling Axel Springer's classifieds business, valued at over €10 billion.
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