Report: New York Times Selling About.com To Answers.com For $270 Million

According to a AllthingsD.com, the New York Times is selling About.com to Answers.com for $270 Million dollars.

“”AllthingsD goes on to say, the deal hasn’t closed yet, and I’m told that Answers’ backers — PE firms Summit Partners and TA Associates — are trying to line up financing.”

“The Times bought About, the precursor to “content farms” like Demand Media, for $410 million in 2005. ”

“Last month, the Times took a $195 million goodwill write-down on the unit, which is largely dependent on search traffic from Google.”

 

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