Axel Springer has acquired a 24-hour news channel, which will be used to supply video for all of its digital platforms. It has acquired 100 per cent of broadcaster N24, for an undisclosed amount.
N24 owns the German language news channel N24 and produces news for free-to-air channels ProSieben, Sat.1 and Kabel Eins, all owned by ProSiebenSat.1.
N24 news channel claimed 4.4 million viewers and a 1.4 per cent market share in the 14-49 age group in the first half of this year.
The deal is subject to approval by Germany’s media and cartel regulators.
Axel Springer plans to combine N24 and the Welt group, which publishes its daily broadsheet Die Welt. The broadcaster will be the “central moving image provider for all Axel Springer brands”, the media group said in a statement. Axel Springer also publishes Bild, Germany’s biggest selling newspaper.