August 14, 2019 / 6:01 AM / 8 days ago

Axel Springer revenue, profits fall in Q2 as weaker economy weighs

FRANKFURT, Aug 14 (Reuters) - German publisher Axel Springer reported a decline in revenue and profits in the second quarter, as a weakening economy hit its jobs classifieds business and it invested more in long-term growth projects.

Springer, which is being taken private in an agreed deal with KKR, confirmed guidance for 2019 that was lowered when it announced on June 12 that the U.S. investor would tender to buy out minority investors.

That deal, at 63 euros a share, won the necessary 20% of acceptances earlier this month and is expected to close towards the end of this year. (Reporting by Douglas Busvine, editing by Riham Alkousaa)

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