Axel Springer and Partners Make New Investment in Group Nine Media

By Max Bernhard Features Dow Jones Newswires

Axel Springer SE (SPR.XE) and its partners have made a follow-up investment of 40 million dollars into Group Nine Media, a U.S. operator of online video platforms, the company said Wednesday.

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Group Nine Media is owned by Discovery Communications Inc. (DISCA), Axel Springer and Lerer Hippeau Ventures.

"With this follow-on financing, we want to accelerate the further growth of Group Nine Media", said Jens Mueffelmann, chief executive of Axel Springer Digital Ventures.

Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

November 29, 2017 04:47 ET (09:47 GMT)