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.
