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Axios agrees to sell to Cox Enterprises for $525 million
We had two initial reactions to this news. The first was ‘!!!!!!’ The second was ‘Who on earth are Cox Enterprises!?!’ Lots to unpack here and very little space, so let’s go.
Cox are already significant investors in Axios. They have a number of business arms including private broadband and automotive, and also own a collection of media outlets including Atlanta Journal-Constitution and Dayton Daily News. The deal includes a $25 million investment to help Axios Local’s expansion.
The striking point here is the quantity of money the business is going for. To have built a media business worth $525 million in just five years (and profitable for the past three) is a testament to the power of focused, simple reporting in high-value verticals. Also worth noting is that Axios HQ, the company’s ‘smart brevity’ software arm, is being spun off into a separate company.
In Europe, TV and Facebook still rule. TikTok and podcasts are on the rise. A look at EU media habits
A dedicated Eurobarometer survey – Media & News Survey 2022 – took an in-depth look at media habits of Europeans. David Tvrdon rounds up some of the key findings for The Fix. I was surprised at the extent to which TV continues to dominate as a news source, even among younger people.
How publishers can build successful communities
Communities can connect the most active members of your audience more closely, as well as create content and value amongst themselves. Some great tips here from Carolyn Morgan, and ones we’ll be paying close attention to as we work on our own plan to bring our brilliant readers and listeners together.
Why does the New York Times prosper while Gannett struggles? Here are four reasons
Where Gannett has spread itself too thin, the Times has found overwhelming success with its longstanding digital-focused plan. A smart analysis of two companies which are roughly the same size, but seem to be on very different paths.
This content originally appeared in The Media Roundup, a daily newsletter from Media Voices. Subscribe here:
