Monday 27. August 2012
The New York Times Company Agrees to Sell Its About Group to IAC
The New York Times Company (NYSE: NYT) has entered into an agreement to sell its About Group, which includes the Web sites of About, ConsumerSearch and CalorieCount, to IAC (NASDAQ: IACI) for $300 million in cash. The all cash transaction is expected to close in the next several weeks. The Company intends to use the proceeds for general corporate purposes.