This is a glimmer of hope for the American media sector, which has been suffering for several months from the reluctance of investors.
The American online news site Axios, launched in 2017 by the co-founders of Politico, is sold to the American media and telecoms group Cox Enterprises for 525 million dollars, it announced on Monday August 8.
“
This is great news for Axios, for our investors and for American journalism.
This sale allows us to build a quality offer over the long term with a trusted partner
,” said Jim VandeHei, co-founder and CEO of Axios, on the sidelines of the announcement.
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Adept at short and bulleted articles, as well as newsletters, Axios focuses its editorial coverage on politics, business and technology.
Online media is aimed at a readership that is already very up to date with current events and does not need recontextualization.
The co-founders of Axios praise the merits of “
intelligent journalistic conciseness
” in front of press articles that they often consider too long.
Cox Enterprises, which already held a minority stake in Axios, plans to inject $25 million in new money to fund the online media's growth.
In the coming months, Axios wishes in particular to extend its coverage of regional news, which today includes around twenty cities, including Philadelphia and Nashville.
“
We are aiming for a presence in a hundred cities in the years to come
,” explained Jim VandeHei, at a time when the local press is gradually disappearing from the landscape.
For the year 2022, Axios expects a turnover of 100 million dollars thanks to both advertising in free newsletters and subscription income on premium ones.
The online media, a beneficiary for three years, was almost bought at the end of 2021 by the German publisher Axel Springer.
Consolidation movement
Present in the media industry for 124 years, the family group Cox Enterprises already has in its fold several local daily newspapers such as Atlanta Journal-Constitution and Dayton Daily News.
In recent months, consolidation movements have accelerated on the side of the American media.
Earlier this year, the
New York Times
bought the online sports news site The Athletic for $550 million.
In an American press sector weakened by a fall in advertising revenues, the models of "
pure players
" such as Axios, The Information and Morning Brew, centered on corporate news and offering newsletters, continue to attract good investor graces.
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