Axios agrees to sell itself to Cox Enterprises for $525 million

Axios Media is being acquired by Cox Enterprises, which said Monday that it plans to push the online BBC World News Today provider into new markets while broadening its coverage.

Axios, citing sources, reported 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 reporters 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.

The company is selling at roughly five times its projected 2022 revenue, of more than $100 million, according to the .

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