German billionaire Mathias Döpfner and private equity group KKR are negotiating a break-up of media conglomerate Axel Springer, the Financial Times reported Thursday, citing four people with knowledge of the matter.
Under the terms of the separation, KKR and Canada Pension Plan Investment Board, who together have the largest shareholding in Axel Springer, would take control of its portfolio of classifieds websites, including jobs platform StepStone and real estate ads unit Aviv, the report said.
Döpfner, the chief executive of Axel Springer, and Friede Springer, the widow of the company’s founder, would assume greater control of the group’s media properties, the report added.
KKR and Axel Springer did not immediately respond to Reuters requests for comment.
Global news publisher Axel Springer houses brands including Politico, Business Insider, Bild and Die Welt.