Axios agrees to sell to Cox Enterprises for $525 million
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.