NY Times In Talks For $270M Sale Of About.com

Law360, New York (August 8, 2012, 5:20 PM EDT) -- The New York Times Co. is in discussions to unload Web-based multisubject reference site About.com, the media giant said Wednesday, and is reportedly working out a deal with question-and-answer site Answers.com worth $270 million.

The announcement follows several disappointing quarters for the About Group, purchased by the Times Co. in 2005 for a widely estimated purchase price of $410 million. In addition to flagship About.com, the group holds a smattering of other sites. For more than a year, the About Group has fought to find financial...
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