US Internet Media Axios Sold to Telecom Company Cox Group
[Asia Economy New York=Special Correspondent Joselgina] The internet media Axios is being sold to the telecommunications company Cox Enterprises.
On the 8th (local time), according to Bloomberg News and others, Axios agreed to a sale to Cox Group for $525 million (approximately 685 billion KRW). Based in Atlanta, Cox is a family-run company that owns some local newspapers such as the Dayton Daily News and has recently been expanding its business in the media sector.
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The three founders of Axios are reported to retain some shares and remain involved in news editing after the sale. John Vanderhei, CEO of Axios, stated in a press release, "Our shared goal is clear," adding, "to deliver concise, nonpartisan, and reliable articles as quickly as possible across as many fields and cities as possible."
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