Monday August 27, 2012

New York Times Sells About.com to IAC for $300M

Sources close to parties involved report that a deal has been made for About.com, CalorieCount.com and ConsumerSearch.com from The New York Times to IAC, a media conglomerate for the sum of $300 million in cash, closing the deal within the next few weeks.

While the New York Times is taking a major hit with the About.com sale price, the company at least won’t have to worry about future losses from the lackluster web property.

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