European media and technology conglomerate Axel Springer is to expand into the UAE for the first time after naming a new Middle East managing director to be based in Abu Dhabi.
Frank Mahlberg, who currently serves as chief operating officer of Germany's Bild Group, will take up the newly created role in the capital on October 1.
Axel Springer, which was established in 1946 and is based in Berlin, has strengthened its media portfolio in recent years as it seeks to position itself at the forefront of digital and AI-supported journalism.
In April, it completed the purchase of the UK's Telegraph Media Group – the publisher of The Daily Telegraph – from RedBird IMI in a £575 million ($782 million) deal.
RedBird IMI had acquired the Telegraph titles as well as The Spectator magazine in 2023, but a retrospective change in British law forced the consortium to find a new buyer.
The Spectator has since been sold for £100 million to hedge fund manager Paul Marshall.
RedBird IMI is a joint venture between RedBird Capital Partners, a New York-based private-equity firm founded and led by Gerry Cardinale and IMI.
IMI is the parent company of quality news outlets, including The National, and has its headquarters in the UAE.
Axel Springer, a family-owned media firm, also publishes popular titles such as Bild, Business Insider and Politico.
Claudius Senst, executive board member for publishing at Axel Springer, underlined the significance of its move into the UAE.
“Today, the United Arab Emirates ranks among the world’s foremost destinations for technology and innovation,” he said. “We want to be closer to the developments that may become relevant to our brands and businesses.”
Axel Springer has already made its first step in the region by investing in The Circuit, a newsletter covering business and technology trends across the Middle East, and providing tailored briefings for institutions, companies, and industry events.
Mr Mahlberg will co-ordinate Axel Springer's activities in the Emirates and represent the company throughout the region. His responsibilities will include building new partnerships and identifying growth opportunities for its brands and products.
“Axel Springer will use its presence in this dynamic region to build new relationships and partnerships for our brands and businesses,” said Mr Mahlberg. “We look forward to exploring the potential of this market as part of our values-driven growth strategy.”
