Axios-Athletic merger gets axed
Arlington-based Axios is daily news site with podcasts, HBO show
A proposed merger between Arlington-based digital news company Axios Media Inc. and San Francisco-based sports media firm the Athletic is no longer going forward, according to a May 6 report from The Wall Street Journal.
The Journal had previously reported that the companies had been exploring merging and going public through through a special purpose acquisition company, or SPAC. The Athletic is now said to be in merger discussions with the New York Times Co.
Axios was co-founded in 2016 by VandeHei, a former Wall Street Journal and Washington Post journalist who also co-founded Politico. Axios earned more than $60 million in revenue during 2020. The company operates a daily news website and sends its content to more than 1.4 million subscribers via an array of specialized email newsletters. Axios also produces an HBO cable television news series as well as podcasts.