Confirming months of speculation, Politico announced plans to produce a European edition. The news site is teaming with German media conglomerate Axel Springer in an equal partnership for the venture, but specifics remain scarce.
CEO Jim VandeHei and editor in chief John Harris informed staff of the deal on Sept. 9. In a memo published by Capital, which VandeHei also runs, they explained, "This partnership is aimed at exploring journalistic opportunities in Europe and is being set up as a stand-alone enterprise."
Politico hasn't set a launch date for the new digital-only publication, tentatively titled Politico Europe, or named a leadership team. What is known—and what may reflect a stated desire to cover continental politics and policy as broadly as possible—is that staff will work in Brussels, home to NATO, the European Parliament and the United Nations Development Program.
The Wall Street Journal cited unnamed sources that put the initial combined investment from Politico and Axel Springer "in the eight figures," and the Huffington Post reported that current Financial Times Brussels bureau chief Peter Spiegel turned down an offer to manage the coming site.
Also unsettled is whether Politico Europe will be free or offer a combination of subscription-only and ad-supported content, as the existing Washington, D.C.-based site does.
Here's what VandeHei and Harris have jointly revealed on these issues: "This is the start of a very important project for us, and we will have many details to share in the weeks ahead."