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Washington news website Politico plans Euro edition

09 September 2014, 23:07 CET
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(WASHINGTON) - Politico, a popular online news operation that follows US politics, announced Tuesday it was launching a Brussels-based edition covering European affairs.

The new digital media offering is a joint venture with German group Axel Springer. Politico reported that the project would start with at least $10 million in funding.

"This is the start of a very important project for us, and we will have many details to share in the weeks ahead," said a memo to staff from Politico's chief executive Jim VandeHei and editor-in-chief John Harris.

"We can tell you this is a 50-50 joint venture with Axel Springer and will cover not just Brussels but European politics and policy more broadly... This partnership is aimed at exploring journalistic opportunities in Europe and is being set up as a stand-alone enterprise."

Details of the project are expected in the coming weeks.

Politico launched in 2007 and has won praise for its in-depth coverage of Washington politics. It is believed to be profitable from advertising and subscriptions for its premium service.

Politico's Matt Wuerker won the first Pulitzer Prize for the media group in 2012 for editorial cartooning, satirizing the partisan conflict that engulfed Washington in 2011.

The move comes amid a growing trend toward specialized digital media, and the woes of traditional outlets such as newspapers which have a broader mission and more legacy costs.


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