Axel Springer is back at it. One day after acquiring Business Insider for $343 million, the German publisher has purchased a minority stake in Thrillist Media Group.
Thrillist—digital publisher of Thrillist, Supercompressor and JackThreads—was founded in 2005 by CEO Ben Lerer and editor in chief Adam Rich. The deal with Axel Springer does not include JackThreads.
“Axel Springer’s track record of success and its deep understanding of the digital media landscape make it an ideal partner as well as a huge asset for our media team as we continue to expand our rapidly growing business,” said Lerer, in a statement.
Financial details of the deal were not disclosed.