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US news service Politico acquires European Voice for new venture

10 December 2014, 20:10 CET
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(BRUSSELS) - US online news service Politico, which specialises in getting the inside track on Washington politics, said Wednesday it is expanding into Europe via the takeover of Brussels-based weekly the European Voice.

Politico said it had joined forces with giant German publisher Axel Springer to put $10 million (8.0 million euros) into the new venture, which will be rebranded Politico.EU and employ more than 30 journalists in its main Brussels newsroom from early 2015.

"The acquisition is a cornerstone of Politico's drive to become the leading new media publication on European politics and policy," it said in a statement.

The new business will offer both news and views online, coupled with a weekly newspaper and a conference service in Brussels, Paris and Berlin.

It will also offer a premium Politico Pro subscription product covering the top European policy areas such as financial services, health care and energy.

Former Wall Street Journal journalist Matthew Kaminski will head the news operation.

"We see European Voice, a familiar and well-respected platform in Brussels, as giving our joint venture an invaluable head start in establishing Politico as the new media agenda trend-setter at this historic moment in European politics," said Axel Springer International president Ralph Buechi.

Politico was set up in 2007 and has won praise for its in-depth coverage of Washington politics, marked in recent years by bitter partisan divisions and no-holds-barred politics.

The European Union, its executive arm the European Commission and the European Parliament may be less confrontational but produce a steady stream of headline stories.


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