Deals
New York Times to Buy the Athletic in $550 Million Deal
- Paper acquires sports website with 1.2 million subscribers
- The Athletic will remain a standalone product, Times CEO says
Source: Bloomberg
The New York Times Co. agreed to buy the Athletic, acquiring a sports-news website with more than 1 million subscribers.
The newspaper publisher is paying $550 million for the Athletic, which will remain a standalone product, Times Chief Executive Officer Meredith Kopit Levien said Thursday in a statement. The deal is expected to close by the end of March.