Politico sells to German publishing giant Axel Springer in deal worth about $1 billion

German publisher Axel Springer announced Thursday that it plans to acquire digital media site Politico. The companies did not disclose a price for the deal, but a person familiar with the matter said Politico sold for about $1 billion.

Spokespeople for Axel Springer and Politico did not respond to a request for comment on the deal’s valuation.

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