Axios Media, known for its to-the-point blurbs on politics, tech and business, is being acquired by Cox Enterprises. Cox is the media conglomerate that owns the Atlanta Journal-Constitution and Kelley Blue Book. Cox said it plans to push the online news provider into new markets.

The deal is structured to ensure investments will continue to flow into local news. Cox sees Axios’s “low-cost model that is digital only” as one that might work in other, local markets. The deal may be speculative, but “they see it as a way forward,” an analyst says.

Buzzfeed has offered buyouts to high-profile news staffers. Vox Media recently laid off 39 people, according to multiple media reports. Axios co-founders and former Politico reporters Jim VandeHei, Mike Allen and Roy Schwartz will continue to hold substantial stakes in the company.

Axios, based in Virginia, was launched in 2017 and is known for brief, bullet-pointed stories. VandeHei will be chairman and Roy Schwartz will be its CEO. The company also publishes daily and weekly newsletters that are targeted to specific industries. For more information on Axios, go to www.axios.com.
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