---
title: "Axios Media to Be Bought by Cox Enterprises for $525 Million"
description: "The online news company Axios Media Inc. agreed to be bought by Cox Enterprises Inc., the latest in a recent flurry of digital deals by traditional media companies."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Business Maverick"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2022-08-08-axios-media-to-be-bought-by-cox-enterprises-for-525-million/"
published: "2022-08-08T17:59:12"
lang: "en-ZA"
word_count: 172
---

# Axios Media to Be Bought by Cox Enterprises for $525 Million

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

By Bloomberg · Published 8 August 2022, 19:59 SAST

## Content

The deal valued the company at $525 million, Axios [said](https://www.axios.com/2022/08/08/axios-agrees-to-sell-to-cox-enterprises-for-525-million) Monday. The company’s three founders will continue to hold substantial stakes and will lead editorial and day-to-day business decisions.The Washington, D.C.-area news site, which was [launched](https://www.axios.com/about) by former Politico staffers in 2017, brought Cox in as an investor in November. Axios has been expanding its coverage increasingly beyond the Beltway, including the launch of [local newsletters](https://www.axios.com/newsletters/local) in more than a dozen cities.

Last August, German media giant Axel Springer SE [agreed to buy](https://www.bloomberg.com/news/articles/2021-08-26/axel-springer-to-buy-politico-in-german-group-s-latest-u-s-deal) Politico in a deal said to be valued at more than $1 billion. Around the same time, Nexstar Media Group Inc. acquired The Hill, which focuses on political news, for $130 million.

Axios Chief Executive Officer Jim VandeHei told the New York Times the founders opted to sell now because Cox offered a fair price, allowing early investors like NBCUniversal and Emerson Collective to get a substantial return.

The company’s 2022 revenue is projected to be more than $100 million, a person familiar with the deal told the Times.