Between fundraising and acquisitions, the “success stories” of new media are multiplying in the United States. Overtime, a media outlet specializing in sports that caters primarily to younger audiences, has raised $100 million in Series D, Axios reveals. After this fundraising, its value is estimated at half a billion dollars, said a source familiar with the discussions.
Axios itself, which has made “intelligent brevity” its hallmark, was acquired this week by the Cox Group for $525 million. Earlier this year, another sports news site, The Athletic, was bought out by The New York Times for $550 million.
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