Axel Springer looking for third business pillar in bid to double value

BERLIN (Reuters) -German unlisted news and media marketing company Axel Springer SE said on Monday it is looking for a third pillar of business as a strategic hedge, part of a bid to double the group's value over five years.

In the search for the new area, the company will look for businesses that are related to the company's main competencies "content, subscription, advertising, mass markets, technology", Axel Springer said in a statement.

(Reporting by Ludwig Burger, Writing by Friederike Heine)