The New York Times acquires sports website The Athletic for $ 550 million
The New York Times has signed a deal to acquire The Athletic sports news site for more than half a billion dollars to expand its reach in both online and print media.
According to a January 7, 2022 CNBC report, the deal is worth about $ 550 million, and after The announcement, The New York Times' share price plummeted. Also.
Sources close to the matter revealed that The New York Times met with The Athletic earlier this year over certain terms and prices, but the talks were held in secret, only to be released by The Information. The deal will be completed by the middle of this year with a value of about $ 550 million.
The New York Times aims to reach 10 million online and print subscribers by 2025, with The New York Times confident that once acquired The Athletic will reach The New York Times reported that in the third quarter of 2021, it had 8.4 million subscribers.
The Athletic website was launched in 2016 and at the end of 2020 announced a total readership of 1 million and by the end of 2021 confirmed an increase of 1.2 million.
