NYT Co. Selling About.com For $270M
The New York Times is reportedly ready to sell About.com to Answers.com for $270 million. “The paper has been looking to get rid of the struggling Web site, which produces
high-volume, low-cost content, and has a deal in place to sell it to Answers.com,” according to AllThingsD’s Peter Kafka. “The deal hasn’t closed yet, and I’m told that
Answers’ backers -- PE firms Summit Partners and TA Associates -- are trying to line up financing.” NYT bought About for $410 million in 2005.