Axios and The Athletic are reportedly in merger talks to create a larger online-publishing company.The final company may look to go public via a merger with blank-check SPAC, they added.US news website Axios is in merger talks with sports-media outlet The Athletic, people familiar with the matter told theThe discussions are at an early stage and may not come to anything, the people said. They didn't reveal the financial terms.
The overall goal of the merger would be to create a larger company that could expand or acquire other digital publishers, people familiar with a presentation for potential investors told the Journal. The combined company may look to raise capital by going public via a merger with a special-purpose acquisition company, orOther options were under consideration, they said.The Athletic CEO Alex Mather approached Axios CEO Jim VandeHei last week to propose the merger, the people said. Mather and VandeHei have spoken about business opportunities during the pandemic but the talks have escalated recently, they added.
Axios and The Athletic believe selling subscriptions to businesses at a premium rate is a potential growth area, the people said. Both companies would continue to operate separately, one of the people told the Journal, with each having their own journalists and editorial products.LoadingBy clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our
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