Buying Another Classified Site, Springer Sees Digital Filling Print Gap

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By: Robert Andrews | paidContent

German news publisher Axel Springer says its acquisition foray in to web classified ad services is helping to make up for its declining print market.

On Tuesday, the group said its Axel Springer Digital Classifieds group is buying 80 percent of Belgian property listings site Immoweb from its founding Rousseaux family and Produpress for €127.5 million ($164 million) – the latest in a spree nearing €1 billion this year.

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