(RepublicanInformer.com)- Meta (Facebook) helped leftist site Axios develop, helping it to earn a $525 million selling price. According to recent research, this is part of a bigger problem of internet corporations subsidizing D.C. media outlets.
Peter Kafka of Vox says Facebook helped Axios sell to Cox Enterprises for $525 million barely five years after its creation. Kafka said that tech corporations are “pouring” money into Washington, D.C., media.
Axios is a five-year-old media firm funded by venture capital that excelled journalistically and commercially, Vox said. This financial achievement culminated in the Cox purchase. Vox reported significant corporations, including Meta and Google’s parent Alphabet, are supporting “digital publishers” focused on D.C. to rebuild their reputations. Axios isn’t alone. Kafka said liberal outlets like Politico and Punchbowl News got tech firm money.
Axios is a lefty news organization that has proven prejudice. Axios stated the New York Post’s piece on the now-authenticated Hunter Biden controversies “rings all the foreign-disinformation sirens in the book.” Axios recommended households in 2021 to have Thanksgiving “bouncers” to prevent admission to holiday visitors without a negative COVID-19 test.
“Facebook is a tremendous net gain for us,” Axios CEO Jim VandeHei told Vox’s Recode Media in 2020, describing his publication’s surprise ad growth. According to Recode, Facebook (or Meta) is the top tech donor of these D.C. media businesses. The “new breed of digital-first magazines,” starting with Politico in 2007, have allegedly increased corporate sponsorship of D.C.-focused media.
Kafka said that Politico, Punchbowl News, and Axios are among the media companies that have received tech firm money.
Leftist writer Judd Legum tweeted screenshots with the caption, “The DC political newsletters by Politico, Axios, and Punchbowl are ALL funded by Facebook.”
Kafka stated that IT businesses aren’t the only players in the so-called “corporate social responsibility” ad industry. The article reported that firms like Lockheed Martin place commercials on television or print publications to attract Congress. Kafka said the audience is government officials, not spectators or readers.
Big Tech firms like Facebook parent Meta make billions of dollars each year. Publishers like Axios live on the fraction of those revenues spent on advertisements. Kafka said that Axios charges $300,000 for a week-long marketing campaign.
Kafka also observed that various corporations’ “corporate responsibility advertisements” in D.C. periodicals might account for $350 million yearly, with one-third coming from internet companies.