Axel Springer SE (OTCPK:AXEL.F) agreed to acquire Protocol Media, LLC/POLITICO LLC from Perpetual Capital Partners LLC on August 26, 2021. Axel Springer is buying Politico for a reported $1 billion. Robert Allbritton will continue as the publisher of the website following the transaction. The editorial and management leadership teams of all the outlets will also remain in place. The transaction includes the remaining 50 percent share of its current joint venture POLITICO Europe. As of October 18, 2021, Reichelt had been relieved of his duties with immediate effect. Subject to regulatory approval, closing of the transaction is expected in Q4 2021. John Fisher, Aimen Mir, Bruce McColloch, Frank Roehling, Maria Dreher, Colin Costello, Christine Laciak, Mena Kaplan, Brock Dahl, Lori Goodman and Claude Stansbury of Freshfields Bruckhaus Deringer LLP acted as legal advisors to Axel Springer SE. Matt Swartz, Justin Bintrim, Nancy Fischer, Keith Ranta, Jessica Lutrin, Kevin Meil, Brian Blum, Nora Burke, Alvin Dunn, Mario Dottori, Andrew Caplan, Christian Buerger, Rebecca Carr Rizzo of Pillsbury Winthrop Shaw Pittman LLP acted as legal advisors for Perpetual Capital Partners LLC.