New York Times to Sell About.com
Company reportedly decides to ditch the struggling answers site
The New York Times Company appears to be shedding some layers this morning, as AllThingsD reported that it's planning to sell About.com for $270 million to Answers.com. The New York Times has also confirmed that the company is in discussions to sell the About Group via a press release but have not officially disclosed any details.
The New York Times Company bought About.com for a $410 million in 2005, which, if you're keeping score at home, means it would take a hit of about $140 million in the deal.
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