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Insider and Politico owner Axel Springer reveals Covid-19 revenue slide but says business ‘booming’ in 2021

Axel Springer, the German news publishing giant that owns Insider and Politico, has revealed that its revenues fell by €150m (£125m/$165m) in 2020 as Covid-19 hit the print and advertising markets. The news company, which is owned by private equity giant KKR, reported a total turnover of €2.97bn last year, down 5% from €3.11bn in 2019. Axel Springer’s profits fell significantly as well. The company reported an adjusted EBITDA...