Axios agrees to sell to Cox Enterprises for $525 million

Posted on AllSides August 8th, 2022
From The Center
Media Industry, Axios, Cox Enterprises

Axios has signed a deal to sell to its most recent lead investor, Cox Enterprises, the companies announced Monday. The cash deal values the company at $525 million, according to sources familiar with the deal.

Why it matters: The deal is structured to ensure investments will continue to flow into local news at a time when most commercial investors have abandoned local markets.

Axios was founded in 2016 by the same leaders who built Politico, with a focus on politics, tech and business. In 2020, it began a significant expansion into local news.

Cox...

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https://www.axios.com/2022/08/08/axios-agrees-to-sell-to-cox-enterprises-for-525-million

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