Earlier this year, German publisher Axel Springer tried and failed
to buy the Financial Times. Now it’s acquiring Business Insider.
This is the deal we told you about last week; Springer is
announcing it today. The deal values Business Insider at $442
million — we had previously told you it would peg the site’s
value at $560 million — but Springer already owned 9 percent of
the company, and Amazon CEO Jeff Bezos, who had previously put his
own money into the company, will leave it in there. When factoring
out the cash still on the books, the value comes down to $390
million. Springer will end up writing a check for $343 million
when the deal closes; it says Business Insider has 76 million
readers and 325 employees worldwide.