Sources say German group may struggle to recoup its investment as titles shift to less profitable models
Axel Springer did not complete due diligence on the Telegraph before sealing its £575m takeover, with sources saying the German media company could struggle to recoup its eye-watering investment as the titles shift toward less-profitable digital subscribers.
To wrap up the deal quickly, Mathias Döpfner, the chief executive of Axel Springer, decided to forgo the usual extensive due diligence process to vet the value and prospects of a company, according to multiple sources.
Continue reading...This article was originally published by The Guardian and written by Mark Sweney Media business correspondent.
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