Axios Media is sold to Cox Enterprises

Associated Press

NEW YORK (AP) — Axios Media is being acquired by Cox Enterprises, which says it plans to push the online news provider into new markets while broadening its coverage.  Axios, citing sources, reported Monday that the deal is worth $525 million. Cox, a conglomerate whose other media companies include The Atlanta Journal-Constitution and Dayton Daily News, first became an investor in Axios last year. Axios co-founders and former Politico journalists Jim VandeHei, Mike Allen and Roy Schwartz will continue to hold substantial stakes in the company and will lead editorial and day-to-day business decisions.