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WEKU
WEKU
Bill Chappell

Axios agrees to sell to Cox for $525 million in cash

Axios Cox Jim VandeHei Cox Enterprises
"This is great for Axios, for our shareholders and American journalism," Jim VandeHei, the media company's co-founder and CEO, said of the sale to Cox Enterprises. (Patrick T. Fallon/AFP via Getty Images)

Less than six years after launching its news site, Axios has struck a purchase deal with Cox Enterprises worth some $525 million, the two companies announced on Monday.

The deal promises to meld two businesses that are distinctly different. Axios, the startup based in Arlington, Va., is famous for its condensed, bullet-pointed stories. Cox is a family-owned conglomerate headquartered in Atlanta that owns Autotrader, Kelley Blue Book and The Atlanta Journal-Constitution, along with substantial enterprises in broadband and other areas.

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