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Photo: Mario Tama/Getty Images

Thai businessman Chatchaval Jiaravanon has acquired Fortune magazine for $150 million, in just the latest example of a U.S. business publication ending up in the hands of an East Asian buyer.

Be smart: The day might not be that far off when there are no major American-owned business publications at all. Even Business Insider is German.

The similar moves in the space:

  • Uzabase, a Japanese company, bought Quartz for about $100 million in July.
  • A mysterious Hong Kong-based group named Integrated Whale Media Investments bought control of Forbes magazine in 2014.
  • Lachlan Murdoch is openly wondering whether his father Rupert might sell the Wall Street Journal. Should that ever happen, don't be surprised if that buyer, too, turns out to be East Asian.

Tech-rich Americans are perhaps more likely to just funnel money in the general direction of journalists, rather than buying trophies.

  • Twitter co-founder Ev Williams has raised $132 million at Medium and is now raising even more.
  • Ethereum co-founder Joe Lubin has given $5 million to Civil.
  • eBay co-founder Pierre Omidyar put $50 million into First Look Media.
  • Craigslist co-founder Craig Newmark has been showering millions of dollars on various nonprofit journalistic entities. He doesn't get to own anything, but he does get his name on a J-school.

The bottom line: Journalists tend to have mixed feelings when their publications are bought for nine-figure sums. On the one hand, it's a vote of confidence in their work and a sign that it's valuable. On the other hand, the money is going to sellers, not journalists. If the buyers expect a decent return on their investment, then the higher the purchase price, the bigger the un-reinvested dividends the new owner might demand.

Go deeper

Updated 19 mins ago - Sports

IOC: Belarus sprinter who sought refuge in Tokyo "safe"

Krystsina Tsimanouskaya of Belarus in 2019. Photo: Ivan Romano/Getty Images

Belarusian Olympian Krystsina Tsimanouskaya, who sought refuge in Tokyo, is in the care of Japanese authorities and the UN refugee agency is now involved in her case, an International Olympic Committee official told reporters Monday.

The latest: Officials in Poland and the Czech Republic have offered to help the 24-year-old sprinter, who refused national team orders to board a flight home after being taken to Tokyo's Haneda airport Sunday following her criticism of Belarusian coaches, per Reuters

Updated 1 hour ago - Sports

Olympics dashboard

Italy's Lamont Marcell Jacobs of Team Italy crosses the finish line ahead of American Fred Kerley in the men's 100m final on day nine of the Olympic Games at Olympic Stadium in Tokyo, Japan, on Sunday. Photo: Cameron Spencer/Getty Images

🚨: IOC "looking into" American Raven Saunders' Olympic podium gesture

🏃🏾: Italy's Lamont Marcell Jacobs: Reconnecting with U.S. father "gave me the desire to win" Olympic 100m sprint race.

🥇High jumpers persuade Olympic officials to let them share gold

🏌️‍♂️: Golfer Xander Schauffele wins gold for U.S. by one shot

🤸🏿‍♀️: Simone Biles won't compete in Olympic floor finals, individual vault or uneven bars

🏳️‍⚧️: Axios at the Olympics: Games grapple with trans athletes — Trans athletes see the Tokyo Games as a watershed moment

Go deeper: Full Axios coverage

Updated 1 hour ago - Sports

IOC "looking into" American Raven Saunders' Olympic podium gesture

Team USA's Raven Saunders gestures on the podium with her silver medal after competing in the women's shot put event during the Tokyo 2020 Olympic Games at the Olympic Stadium in Tokyo on Sunday. Photo: Ina Fassbender/AFP via Getty Images

The International Olympic Committee is "looking into" U.S. shot-putter Raven Saunders' gesture on the Tokyo Games podium after she won a silver medal, IOC spokesperson Mark Adams told reporters Monday.

Why it matters: Saunders told AP she placed her hands above her head in an "X" formation while on the podium to stand up for "oppressed" people. The IOC has banned protests during the Tokyo Games.