New York Times Company Finalizes Sale of About.com
With a $300 million price tag, The New York Times Company completed the sale this morning of About Group to Barry Diller’s IAC. We first reported Diller’s deal last month.
The About Group encompasses About.com, and lesser known Web sites: Caloriesearch.com and Caloriecount.com.
The Times reports the company’s after-tax proceeds, which are worth about $290 million, will be used for “general corporate purposes.”
The Times, on the losing end of the sale, bought the Internet sites in 2005 for more than $400 million.
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