03:12 PM EDT, 07/11/2024 (MT Newswires) -- (Updates with details throughout.)

KKR (KKR) and Axel Springer Chief Executive Mathias Dopfner are discussing to break up the media conglomerate, the Financial Times reported Thursday.

The move would see Axel Springer separate its media assets from its digital classifieds operation, FT reported, citing four people with knowledge of the matter.

Under the separation being negotiated, Dopfner and Friede Springer, widow of the company's founder, would assume more control over the group's media properties which include US news sites Politico and Business Insider and German publications Bild and Die Welt.

Meanwhile, Axel Springer's largest combined shareholders KKR and Canada Pension Plan Investment Board will get Axel Springer's portfolio of classifieds websites that include jobs platform StepStone and real estate ads unit Aviv.

The split is not guaranteed and both sides are yet to iron out the terms, FT reported.

The Canada Pension Plan Investment Board declined comment to MT Newswires, while KKR and Axel Springer did not immediately respond to requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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