Axel Springer AG (DB:SPR) agreed to acquire N24 Media GmbH from Stefan Aust and others on December 9, 2013. Axel Springer AG plans to combine N24 and the Welt Group. The editorial team of WELT Group is will include N24 digital editorial team. The management will be led by Jan Bayer, President of WELT Group and printing of Axel Springer, Torsten Rossmann, Chairman of the N24 management Board, and Stephanie Caspar, Managing Director of WELT Group. Jan-Eric Peters, editor-in-chief of WELT Group will be responsible for content of the WELT Group. Arne Teetz, editor-in-chief of N24 Media GmbH will be responsible for all moving image content. The transaction is subject to approval by the Cartel and media offices. As on February 7, 2014, the transaction has been approved by the German Cartel Office.

Christoph Wagner und Hanno Timner, Clemens Waitz, Kristina Ehle, Sebastian Schwalme, Harm-Randolf Döpkens, Karoline Boullay, Jens Hackl, Felix Helmstädter and Hilmar Hamm of Morrison & Foerster acted as legal advisors to Axel Springer AG. Norbert Rieger, Rolf Füger, Alexander Rinne, Andrea Eggenstein, Christina Correll, Carlo Scheiternig, Matthias Schell of Milbank, Tweed, Hadley & McCloy LLP acted as legal advisors to N24 Media. Helmut Bergmann, Frank Roehling, Anna Blume Huttenlauch, Léa Kroth of Freshfields Bruckhaus Deringer acted as legal advisors to Axel Springer AG. PwC Corporate Finance acted as financial advisor for Axel Springer.

Axel Springer AG (DB:SPR) completed the acquisition of N24 Media GmbH from Stefan Aust and others on February 7, 2014.