Axel Springer, the European media giant expanding into Australia

German multinational media conglomerate Axel Springer has been particularly busy lately, with the UK acquisition adding to its recent expansion into Australia. Telegram newspaper. Telegraph Media Group, whose sale has been discussed for three years and was planned to be sold to Daily Mail and General Trust (DMGT) late last year, reached an agreement with the German giant for £575 million (A$1.1 billion) at the weekend.

Axel Springer owns some of the biggest news brands in continental Europe, including conservative tabloid PictureGermany’s largest newspaper in terms of circulation and also a more centrist newspaper Die Welt.