Cox Enterprises announced on Monday that they had acquired the media outlet Axios in a deal expected to close later this month, bringing the Twitter-era news outlet into the fold of a company with deep roots in American history.
The announcement on Monday afternoon revealed that the news site, known for its bullet-point presentation of technical information in politics and business, would be acquired by the wide-ranging Cox Enterprises, though Axios’s founders will remain at the company with financial incentives to ensure their retention. The deal is valued at $525 million—roughly five times more than Axios’s projected revenue for 2022—according to two insiders who spoke to The New York Times on the condition of anonymity.
