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German media conglomerate Axel Springer is selling off its 75 percent stakes in business news site WallStreet:Online and stock broker WallStreet:Online Capital, plus its 33.3 percent share of business certificate site ZertifikateJournal, to their managers and shareholders.
It says it wants to focus on its other financial portal, Finanzen.net, which it says has a higher reach.
You might expect that sites targeting financial professionals could be more easily switched switched from ad support to paid, but Springer isn’t doing that. WallStreet:Online income fell by 31.4 percent, or about