New York Times Pays $410 Million for About.com
The New York Times Company said yesterday that it agreed to buy Internet content provider About.com from magazine publisher Primedia Inc. for $410 million in cash.Primedia acquired About.com in 2000 in a stock swap valued at $690 million.
The Web site About.com offers nearly 500 guides who create sites on thousands of topics from personal finance to consumer electronics. It attracts 22 million unique visitors each month, according to About.com.
The Times said it expected the acquisition to add to its earnings in 2007.
