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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.

8 of 146 comments (clear)

  1. omg ny timiomes by Anonymous Coward · · Score: -1, Offtopic

    4life

  2. fp by Anonymous Coward · · Score: -1, Offtopic

    frist prost!!!!!!!~~!

  3. LET ME BE THE FIRST TO SAY by Anonymous Coward · · Score: -1, Offtopic

    OMG WTF!?!? Slashdot would be worth at least $12.50 in mexican pesos at these inflated numbers!

  4. HI by Anonymous Coward · · Score: -1, Offtopic

    My boner knows no natural boundaries.

  5. whats about.com about? by Anonymous Coward · · Score: -1, Offtopic

    Is it good or is it whack?

    1. Re:whats about.com about? by Anonymous Coward · · Score: -1, Offtopic

      It is whack.

  6. Re:YeeHaaaa by Anonymous Coward · · Score: -1, Offtopic

    But we can never give credit to Bush. Oh noooo, we can't have that. Bush only does bad things, NEVER anything good for the ecconomy

  7. htrOll by Anonymous Coward · · Score: -1, Offtopic

    America. You, WRITING IS ON THE contributed code been many, not the