IAC Makes Bid for NYT’s About.com

$300 million offer could spark bidding war

Just when you thought it was all said and done between The New York Times Co. and the About Group, Barry Diller seems ready to shake things up.

According to a Reuters report, Diller's IAC/InteractiveCorp made a bid for About.com for over $300 million, which far exceeds the $270 million offer from Answers.com reported earlier this month. For IAC, About.com would help buffet IAC's revamped Ask.com, which recently moved away from an algorithmic search-based traffic model.

It is unclear exactly where the New York Times Co. and Answers.com are in their discussions, but seeing as the company would take a hit of about $140 million in the current deal, Diller's offer has the potential to make things interesting and even possibly trigger a bidding war. The New York Times Company hired BBC executive Mark Thompson as CEO last week, and it is possible that the financially beleaguered company could rethink its decision.

The New York Times Company declined comment, saying, "It’s our longstanding policy not to comment on potential acquisitions or divestitures."

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