Axel Springer, the German publisher which was so close to buying the Financial Times before Nikkei stepped in this July that the FT itself reported Axel Springer had closed the deal, today announced it was instead increasing its stake in online news site Business Insider to 97 per cent in a $343m (£226.4m) deal.
But some argue the deal actually represents better value for Axel Springer. Here are four reasons why.
1. Sheer size
When the deal completes, Axel Springer, which, publishes German tabloid Bild, will become the sixth largest online publisher in the world, with a global readership of around 200m.
2. It's a bargain
The deal, which values the publisher at $422m, is one of the largest digital publishing acquisitions in the last five years, but is a snip compared to the £844m paid for the FT.
3. The future is brighter
FT readership has been dwindling, with a UK print circulation of approximately 69,000, of which only 6,000 are personal subscriptions. FT's annual profit is only £24m, on the back of sales of £34m
4. Business Insider has global reach
While the FT has a global circulation of around 720,000, including online subscribers of 540,000 (as of the end of 2014), Business Insider has 76 million unique visitors, daily, and seven additional edition outside the US: including the UK, Singapore and Australia.