Axios Acquired for $525 Million

The online news company Axios Media agreed to be bought by Cox Enterprises the latest in a recent flurry of digital deals by traditional media companies.

The deal valued the company at $525 million, Axios said Monday. The company’s three founders will continue to hold substantial stakes and will lead editorial and day-to-day business decisions.

The company’s 2022 revenue is projected to be more than $100 million.

Source: Bloomberg