NYT Buys About.com

The New York Times Co. this afternoon agreed to buy Primedia’s About.com for $410 million. The deal will be completed in four to six weeks. The NYT’s own story says that the purchase is the company’s largest since the Globe purchase in 1993.

Here’s the Times’ story from a week ago saying About.com was for sale.

UPDATE (4:46 P.M.): Here’s the NYT press release. According to Nielsen/Net Ratings, the joint NYT/About.com entity will be the 12th largest on the internet.