About Time: N.Y. Times Sells Site To IAC

IAC/InterActive Corp. IAC won a month-long bidding war for the question and answer website -- for $300 million. Four weeks ago, Answers.com had signed a letter of intent to take About.com off the Times' hands for $270 million. The president of Answers.com, Peter Horan, had previously been the CEO of About.com. The interactive media and ad company plans to integrate About.com into its own search engine and question-and-answer service, Ask.com.

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Tags: media, online
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