Luminary Media, a Chicago-based subscription podcast network with exclusive content, reportedly raised around $60 million in new funding. The company has now raised nearly $100 million in total, from backers like NEA.

Why it matters: This comes just weeks after Spotify acquired a pair of large podcast networks, with its own ambitions of becoming Netflix for podcasts. "To some degree, of course, all media start-ups think they are going to be the next Netflix. The test for Luminary will come in the execution. And there are plenty of challenges. Subscription-based businesses are hot at the moment, but analysts say that consumers will begin pushing back and asking, How many entertainment services do I really need to be paying for every month?" writes Brooks Barnes in the New York Times.

Go deeper: Vox Media’s multi-million dollar podcast deal

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10:30 a.m. ET: 12,528,449 — Total deaths: 560,921 — Total recoveries — 6,907,072Map.
  2. U.S.: Total confirmed cases as of 10:30 a.m. ET: 3,187,270 — Total deaths: 134,117 — Total recoveries: 983,185 — Total tested: 38,856,341Map.
  3. Public health: We're losing the war on the coronavirusThe reality of the coronavirus bites.
  4. Business: Trump says he's no longer considering phase-two trade deal with China because the pandemic damaged the two countries' relationship — How the coronavirus pandemic boosted alternative meat.
  5. 🎧 Podcast: Rural America has its own coronavirus problem.

Romney calls Stone commutation "historic corruption"

Sen. Mitt Romney. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Sen. Mitt Romney (R-Utah) on Saturday tweeted a scathing response to President Trump's Friday night commutation of former associate Roger Stone's prison sentence, calling the move "[u]nprecedented, historic corruption."

Why it matters: Romney has emerged as the party's most prominent Trump critic. He sent shockwaves through Washington after announcing he would vote to convict Trump in the impeachment trial — becoming the only Senate Republican to break ranks and vote for the president's removal from office. Now he is the first major GOP lawmaker to condemn Trump's Friday night call regarding Stone.

5 hours ago - Health

We're losing the war on the coronavirus

Chart: Danielle Alberti/Axios

By any standard, no matter how you look at it, the U.S. is losing its war against the coronavirus.

Why it matters: The pandemic is not an abstraction, and it is not something that’s simmering in the background. It is an ongoing emergency ravaging nearly the entire country, with a loss of life equivalent to a Sept. 11 every three days — for four months and counting.