New York Times Buys About.com for $410 Million

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.

Comments

Re:Oooooh ....

[elecngnr]

No doubt. I tried a link to that site one time doing a little research on something. It was 99% ads, 0.99% whitespace, and 0.01% information--and I use the term information liberally here. Some of the articles themselves are unabashed ads.

So the newspaper you prefer is....?

[Infonaut]

I'm dying to know what daily newspaper in the United States provides as much depth and breadth of coverage as the NYT without running afoul of your political orientation.

Idiots

[pHatidic]

I want to go on record saying this is going to be a horrible 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.