Germany's Axel Springer closes acquisition of Telegraph Media Group

BERLIN, June 30 (Reuters) - German publishing group Axel Springer said it closed the acquisition of the Telegraph Media Group on Tuesday, following regulatory approvals in Britain, Ireland and Austria.

After buying Politico in a deal valued at around $1 billion in 2021, the Telegraph purchase is Axel Springer's second-largest investment since its founding in 1946, following an earlier failed attempt to acquire the London-based paper in 2004.

Here are more details:

• "After three difficult years without owners, we look forward to stoking up the engines and setting forth on a new voyage," Telegraph editor-in-chief Chris Evans was quoted as saying in Springer's statement.

• Axel Springer said it will strengthen the Telegraph Media Group's commercial and subscription businesses and expand its events and premium offerings, while preserving editorial independence and integrity.

• "Axel Springer and The Telegraph share strong commitments to freedom, values, a tradition of embracing and pioneering technological change, and an entrepreneurial will to actively shape the future. This creates a strong foundation for further accelerating our AI-powered digital transformation," Axel Springer CEO Mathias Doepfner said.

• British culture minister Lisa Nandy said in March she would assess the £575 million ($761 million) deal under Britain's public interest and foreign state influence media mergers regime.

($1 = 0.7558 pounds)

(Reporting by Klaus Lauer and Thomas Seythal; Editing by Thomas Derpinghaus)