Axel Springer invests in Abu Dhabi-based outlet The Circuit

Axel Springer is latest Western publisher to take a greater editorial interest in the business story in the Middle East.

Axel Springer is expanding in the Middle East, joining a growing number of Western publishers with an editorial presence in the region — and testing a key pillar of its editorial beliefs.

Last week, the German news media giant announced that it is investing in The Circuit, an Abu Dhabi-based publication founded by Max Neuberger focusing on tech and business in the Middle East.

The move will make Axel Springer the latest Western publisher to take a greater editorial interest in the business story in the Middle East, where geopolitical instability, energy wealth, and ascendant tech, finance, and entertainment sectors have increasingly driven global narratives.

Axios has been looking to launch in the Middle East, and last year, Semafor launched Semafor Gulf.

But Axel Springer’s investment in an outlet operating in the UAE will also test one expression of the principles that guide its news business.

Speaking onstage in Washington at Semafor’s Trust in News Summit earlier this year, CEO Mathias Döpfner noted the company’s longstanding policy that it did not operate in countries without free speech protections. “We do not invest in nondemocratic countries,” he said. “We always say our goal is to be the leading AI-powered digital publisher in the free world.” In a statement, an Axel Springer spokesperson clarified that The Circuit was technically incorporated in the US, with staff located around the world.

And while the spokesperson said Döpfner stood behind his comments, they said the company conducts a “case-by-case assessment” of each location it invests in, “taking into account the direction in which a country is developing and then aligning our activities there accordingly.” “We have done this in the case of the UAE, where there is clearly a positive trajectory.

We will continue to monitor developments closely.

Of course, as Russia — which is formally still a democracy — became more undemocratic, we withdrew from the country from a business perspective, but our news publications continue to report on it critically,” the spokesperson said.

In an email, Neuberger said he would share additional details about the investment in the near future. “We’re very excited to be Axel Springer’s first investment in the space and look forward to expanding our offerings to help our subscribers better understand and navigate the Middle East business ecosystem,” he wrote.