Answers.com expected to buy About.com from New York Times
Peter Kafka reports Answers.com has signed a letter of intent to buy About.com from the New York Times for $270 million. “The paper has been looking to get rid of the struggling Web site, which produces high-volume, low-cost content,” he writes. “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.com from Primedia for $410 million in 2005.
* New York Times set to sell About.com for $270 million to Answers.com (All Things D)
