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New York Times Buys About.com for $410 Million

Posted by Zonk on from the expensive-searching dept.

IAmTheDave writes "Reuters has the story that the New York Times Co. is set to purchase About.com for $410M from Primedia, Inc. The high purchase price is due to increased ad revenue, up 30% from last year." From the article: "Phillips pointed out that Internet companies have started trading again at significantly higher multiples, and said The Times Co. would be able to use ad revenue from About.com to make up for the flagging classified ad sales that have plagued the industry." Commentary also available at The Chicago Tribune, The Guardian, and CNN Money.

11 of 146 comments (clear)

  1. Oooooh .... by Anonymous Coward · · Score: 5, Funny

    NOw we'll need a free registration to read the junk on about.com??? No thanks!

    1. Re:Oooooh .... by daeley · · Score: 2, Funny

      bla bla bla bla bla bla

      You misspelled ad.

      --
      I watched C-beams glitter in the dark near the Tannhauser gate.
  2. About.com?! by AyeRoxor! · · Score: 3, Funny

    Wow. I bet they're partying like it's 1999! /fp

  3. And strangely enough... by Weaselmancer · · Score: 5, Funny

    The story is posted on Reuters, and does not require a free registration to read it.

    --
    Weaselmancer
    rediculous.
    1. Re:And strangely enough... by IAmTheDave · · Score: 4, Funny

      It's on NYT too... but I just couldn't do that to everyone :)

      --
      Excuse my speling.
      Making The Bar Project
  4. YeeHaaaa by big-giant-head · · Score: 1, Funny

    Return of the internet boom???? Areo chairs, Fooseball, free lunch and all the pop u can drink + 80K a year??

    --

    So Long and Thanks for all the Fish.
  5. About Time by mmerlin · · Score: 4, Funny

    If it was a merger, they change their name to "About Time New York". It sounds better than AOL Time Warner

    --

    smile, it makes everyone else wonder what you're up to :-)
  6. About.com changes by EmagGeek · · Score: 5, Funny

    Before Buyout:

    Seals: An arctic mammal predominantly inhabiting lands covered in show and ice

    After Buyout:

    Seals: An endangered arctic mammal, frequenly accosted by the ever accelerating expansion of evil humans. Seals inhabit the endangered arctic ecosystems that are becoming more and more rare due to President Bush's oil cronies and their power and influence over corporate America. It should be noted that, while seals have been killed be the millions in the past, Republicans often like to go on Seal clubbing expeditions just to see small, defenseless, helpless animals suffer.

  7. In Other News... by WormholeFiend · · Score: 5, Funny

    The Toronto Star buys Aboot.com

  8. I'd just like to say: by temojen · · Score: 2, Funny

    It's Americans who say about wrong. It's about, not Abaaawt.

  9. Geniuses by Anonymous Coward · · Score: 1, Funny

    I want to go on record saying this is going to be a great move for the Times. Please mod this comment up so that five years from now if anyone sees this comment then I look like a genius for predicting the future. ;)