Cox Enterprises Takes a Stake in Axios News Site
Posted on 11/02/2021
Once getting flack for accepting and then not taking Paycheck Protection Program loan (PPP) money, political news website Axios has taken an investment round from Cox Enterprises Inc., an Atlanta-based conglomerate that owns newspapers, television stations, and radio stations. Axios says the latest money from Cox gives them a valuation of US$ 430 million. Cox Enterprises bought out an earlier investor and got a board seat on Axios.
Talks broke down when KKR-backed Axel Springer, a Germany publisher who owns Politico and Insider, decided to not move forward on a deal.