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Friday, February 18, 2005

About.com sold to NY Times

The New York Times Company reached a deal to buy About.com from Primedia for $410 million.

The purchase adds an alternative content model to the New York Times Company's online news properties, NYTimes.com and Boston.com.

In a statement, the company said it was motivated by About's profitability and growth, and said the purchase would diversify the company's online advertising base.

The Times said it wanted About.com to extend its reach among Internet users, diversify its online advertising inventory and add pay-per-click ads.

Adding About.com's 22 million monthly users to the Times Company's 13 million will form the 12th-largest entity on the Internet, according to Nielsen//Net Ratings. The Times will market its other digital properties to those 22 million users.

About.com will operate as a separate business division.

posted by What I Write @ Article

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