Todd Spangler NY Digital EditorAxios Media has been acquired by Cox Enterprises in a cash deal said to value the digital news company at $525 million.Media and publishing firm Cox Enterprises had taken a minority stake in Axios in November 2021.
The $525 million deal price is about five times its projected 2022 revenue of more than $100 million, the New York Times reported.
Axios had raised $55 million in funding.Axios was launched in January 2017 by three ex-Politico execs: Jim VandeHei, Mike Allen and Roy Schwartz.
It was previously reported that German publishing giant Axel Springer, which owns Insider, was in talks to acquire Axios. Axel Springer acquired Politico in a $1 billion-plus deal.
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