Axel Springer Moves Away from Wall St.

Axel Springer is giving up its Wall Street address, as the German media giant said it will sell its 75 percent stakes in business-news site WallStreet:Online and brokerage site WallStreet:Online Capital to the sites’ managers and shareholders, with the same fate for its 33.3 percent portion of business-certificate site ZertifikateJournal, paidContent:UK reported.

Financial portal will now be the focus of Axel Springer’s efforts in the financial sector.

paidContent:UK added that WallStreet:Online saw its income plunge by 31.4 percent in 2009. David Cohen is editor of Adweek's Social Pro Daily.
Publish date: May 18, 2010 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT