US based politics, business, security and economic affairs magazine Politico is to launch a European edition from 21 April after teaming up with German media group Axel Springer to recruit 40 journalists in Brussels, London, Paris and Berlin in a ‘seven figure’ commitment.
These investments will be put towards the operation of a website, events and a print edition of up to 30,000 copies in Brussels and disseminated at major transport hubs in European capitals.
The ambitious launch is intended to quickly establish Politico as the continent’s ‘dominantpolitics and policy publication’ in direct competition with the FT, The Economist and the New York Times.
Outlining the expansion Politico founder John Harris said: “I am an admirer of the FT, the Economist and the international edition of the New York Times. We are going to compete on the equal footing right from the get-go.
“The expansion that we are making in Europe, it’s really by far the biggest project on our plate. I don’t imagine a year from now we could be dominant, [but] we’re certainly going to be a major player in that European conversation.”
Amongst a raft of hires recruited by the title are Ryan Heath, former adviser to EU president Jose Manuel Barroso and Neelie Cross, ex-spokesman for the EU commissioner, who will be senior correspondents.