@@ -1,1 +1,1 @@ - +Axios Media is being acquired by Cox Enterprises, which said Monday that it plans to push the online news provider into new markets while broadening its coverage.<br>Axios, citing sources, reported that the deal is worth $525 million.<br>Cox, a conglomerate whose other media companies include The Atlanta Journal-Constitution and Dayton Daily News, first became an [https://www.biggerpockets.com/search?utf8=%E2%9C%93&term=investor investor] in Axios last year.<br>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.<br>The company is selling at roughly five times its projected 2022 revenue, of more than $100 million, according to the . <br>The publication said that althugh the company was profitable for the last three years, it is not expected to be profitable in 2022. <br> Axios chief Jim VandeHei and other founders of the online news outlet are to [https://www.hometalk.com/search/posts?filter=continue%20guiding continue guiding] editorial decisions after it is bought by Cox Enterprises in a $525 million deal<br>The Axios communications software business, Axios HQ, will become an independent company majority-owned by the founders and will include Cox as sole minority investor.<br><br>VandeHei will be chairman and Roy Schwartz will be its CEO.<br>Axios, based in Virginia, was launched in 2017 and is known for brief, bullet-pointed stories. The company also publishes daily and weekly newsletters that are targeted to specific industries.<br>The founders of Axios will keep stakes in the company and continue to lead day-to-day editorial and business decisions, Cox said in a release.<br>'With so much happening in the [https://www.bbcworldnewstoday.com/ BBC World News Today], [https://www.academia.edu/people/search?utf8=%E2%9C%93&q=Axios%20plays Axios plays] a critical role in delivering balanced, trusted news that people need,' said Cox chief executive Alex Taylor.<br> RELATED ARTICLES Share this article Share Cox Enterprises was [https://hararonline.com/?s=founded founded] as a family business in 1898 and is now based in Atlanta in the US state of Georgia.<br>Cox subsidiaries range from media outlets such as the Atlanta Journal-Constitution to internet-service provider Cox Communications and an eponymous automotive sales division.<br>'Our shared ambitions should be clear: to spread clinical, nonpartisan, [https://www.medcheck-up.com/?s=trusted%20journalism trusted journalism] to as many cities and as many topics as fast as possible,' Axios chief executive Jim VandeHei said in a release.<br> adverts.addToArray({"pos":"inread_player"})Advertisement data-track-module="am-external-links^external-links"> Read more: DM.later('bundle', function() DM.has('external-source-links', 'externalLinkTracker'); );