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The financial terms of the deal were not disclosed.
However, the New York Times earlier reported the deal valued Axios at $525 million, according to two people familiar with the matter.
Axios co-founders Jim VandeHei, Mike Allen and Roy Schwartz will continue to lead editorial decisions at Axios, Cox Enterprises said in a statement.
Cox, which operates Cox Automotive and Cox Communications, also owns the Atlanta Journal-Constitution, Dayton Daily News and other newspapers in Ohio.
