Axios, valued at $525 million, to be sold to Cox Enterprises in major deal

Written by Press | Aug 8, 2022 4:00:00 AM

Published by The Washington Post August 8, 2022

Cox Enterprises said Monday it has acquired majority control of Axios, a five-year-old digital news company headquartered in Washington.

The companies didn’t announce what Cox paid, but the Atlanta-based publisher will own 70 percent of Axios, which the two parties said was worth $525 million.

Axios’ three founders and its employees will retain about 30 percent of the ownership. The company has about 500 employees spread across several operations and cities, including Axios HQ, a communications software company.

The sale is a huge payday for Axios’s investors, including employees and founders. The site launched in 2017 and quickly grew into a well-read purveyor of news and analysis about politics, government, technology and media. Axios also struck TV deals with HBO and MSNBC, giving it an immediate promotional boost.

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See more coverage from other media outlets

Reuters: Axios agrees to $525 million buyout deal with Cox Enterprises
CNBC: Axios to sell itself to Cox Enterprises for $525 million
The Guardian: US news website Axios agrees $525m sale to Cox Enterprises
NY Post: Axios sold to Cox Enterprises for reported $525M
The Hollywood Reporter: Axios Sold to Cox Enterprises for $525M

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