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The Athletic Newsbeat

Thursday, January 06, 2022

NY Times to Buy The Athletic for $550 Million

The New York Times will buy The Athletic for $550 million after months of talks, according to a new report from the Information.

Representatives for the storied newspaper and the subscription sports news website did not immediately respond to requests for comment on the report, which pointed out that acquiring the smaller site will help the Times move toward its goal of 10 million subscribers by 2025. It currently has about 8.3 million and The Athletic has over 1.2 million.

The Athletic has been looking for a buyer for months. Initial talks with not only the Times, but Axios, fell through in 2020 and in September, the company hired LionTree investment bank as it looked for funding and explored a sale at a value that was estimated could reach $750 million.

RoyalsRetro (AG#1F) Posted: January 06, 2022 at 11:37 AM | 67 comment(s)
  Beats: media, the athletic

 

 

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