Media Briefing: What Axios’ sale says about the valuation of digital media companies

In this week’s Media Briefing, senior media reporter Sara Guaglione looks at what Axios’s sale to Cox Enterprises signals about the current investment market for media companies. The key hits: Industry experts say Axios’ price is high, but deserving, with a value not necessarily reflective of the market.An economic downturn may be a good time for larger companies to look to acquisitionsThe advertising slowdown could spur more media M&A deals. On Monday, Cox Enterprises announced it had agreed to buy Axios in a cash deal valuing the company at $525 million – roughly five times its projected 2022 revenue of over $100 million, according to The New York Times, which broke the news.