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Inside Politico’s Billion-Dollar Drama

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Old resentments among Mr. VandeHei, Mr. Harris and Mr. Allbritton then boiled over. Mr. VandeHei, Mr. Allen and the company’s chief revenue officer, Roy Schwartz, quit Politico and started the newsletter outfit Axios, an immediate success that became a serious competitor. The move brought an end to what had seemed to outsiders like a close friendship between Mr. Allbritton and Mr. VandeHei, though Mr. Allbritton said he didn’t take it personally.“A lot of other people had much bigger emotional reactions than I did,” he said brightly.He also said that he did not consider Axios a competitor, …

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