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.

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."