Axel Springer 'looking to expand'

German firm seeking growth abroad.

Reports from the US suggest the German media conglomerate is looking to expand its portfolio.

According to a story in the Columbia Journalism Review, Axel Springer is one of three bidders in the race for Forbes.

Two years ago the company stated it saw its future as digital.  60% of its profits come from digital companies.  Speaking to the Wall Street Journal this week, the CEO stated that the company is interested in any acquisition that is reasonably priced and fits in with its core competencies.

Read the full story at Columbia Journalism Review.