toggle

AAPL Stock: 112.78 ( -0.14 )

Printed from http://www.macnn.com

New York Times to sell About.com to Answers.com for $270M

updated 11:10 am EDT, Wed August 8, 2012

Deal near closing

The New York Times is reportedly attempting to part ways with its About.com division. The website, which offers organized information on a broad range of topics, is said to have failed to rekindle interest among readers, despite a restructuring effort and attempts to engage China.

The Times purchased About.com in 2005 for $410 million, however the newspaper publisher was recently forced to take a $195 million write-off as the website value continues to slide.

The website, founded in the mid '90s during the dot-com bubble, relies on paid writers to produce content related to a myriad of subjects, ranging from history to health information and cooking. Revenues are now said to be mostly attributed to traffic arriving via Google.

Answers.com is claimed to be the likely suitor, agreeing to pay $270 million for the web property, though the deal is said to be a awaiting finalization, unnamed sources have told AllThingsD.




by MacNN Staff

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

Wren V5US Wireless Sound System

If you're a music fanatic, chances are you are, by extension, a bit fanatical about what you listen to your music on. If you're like ...

toggle

Most Commented