The deal to split the firm’s news division from its more profitable classifieds business would value the company at €13.5 billion (about $20.4 billion), with the classifieds representing more than €10 billion, sources told the Financial Times. (Financial Times)

Talking point: U.S. investment giant KKR and Canada Pension Plan Investment Board together own 48.5 per cent of Berlin-based Axel Springer, of which CPP Investments controls 12.9 per cent. The split would give German billionaire Mathias Döpfner control of the news assets, which include Business Insider, Politico and German publication Die Welt. It gives KKR and CPP Investments an exit from what’s been a challenging business. Since KKR took the media company private in 2019 for €6.7 billion, it’s dealt with a string of controversies including sexual harassment allegations and accusations of editorial interference by Döpfner.