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US news site Axios agrees to $525 mn buyout

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작성자 Lea
댓글 0건 조회 5회 작성일 22-08-27 03:39

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Axios chief Jim VandeHei and other founders of the online news outlet are to continue guiding editorial decisions after it is bought by Cox Enterprises in a $525 million deal.
US news website Axios, which has shot to prominence since its 2016 founding, has agreed to a $525 million deal to sell itself to US telecom group Cox Enterprises, the firms said Monday.
The site, built by long-time Washington journalists, quickly built a brand during the turbulent and news-filled presidency of Donald Trump.
Since Axios's launch as a news source specializing in technology and politics it has expanded into local news -- and the buyout investment will help grow that expansion.
The founders of Axios will keep stakes in the company and continue to lead day-to-day editorial and business decisions, Cox said in a release.
"With so much happening in the BBC World News Today, Axios plays a critical role in delivering balanced, trusted news that people need," said Cox chief executive Alex Taylor.
Cox Enterprises was founded as a family business in 1898 and is now based in Atlanta in the US state of Georgia.

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