Ticker: Axios Media is sold to Cox Enterprises; Boeing to resume deliveries of 787 Dreamliner

Axios Media is being acquired by Cox Enterprises, which said Monday that it plans to push the online news provider into new markets while broadening its coverage.

Axios, citing sources, reported that the deal is worth $525 million.

Cox, a conglomerate whose other media companies include The Atlanta Journal-Constitution and Dayton Daily News, first became an investor in Axios last year.

Axios co-founders and former Politico reporters Jim VandeHei, Mike Allen and Roy Schwartz will continue to hold substantial stakes in the company and will lead editorial and day-to-day business decisions.

The Axios communications software business, Axios HQ, will become an independent company majority-owned by the founders and will include Cox as sole minority investor. VandeHei will be chairman and Roy Schwartz will be its CEO.

Boeing cleared to resume deliveries of 787 Dreamliner

Federal regulators said Monday they are satisfied with changes Boeing has made in the production of its 787 Dreamliner passenger jet, clearing the way for the company to resume deliveries to airline customers “in the coming days.”

The Federal Aviation Administration announcement confirmed reports late last month and came days after the agency’s acting chief met with safety inspectors who oversee Boeing.

The FAA said acting Administrator Billy Nolen wanted to hear about steps Boeing has taken to fix manufacturing problems and ensure independence for Boeing employees who work with regulators.

The FAA said it will inspect each plane before it is approved for delivery.

“We expect deliveries to resume in the coming days,” the FAA said.

Shares of Boeing Co., which is based in Arlington, Va., were up 1.8% in afternoon trading Monday.

from Boston Herald https://ift.tt/uj7ayqO