One of the oldest newspaper companies in America, the New York Times (NYT), will let go its top Internet property. The buyer is InterActive Corporation (IAC). The deal is valued at $300 million in cash. As both companies, NYT and IAC, are located in New York City, the acquisition will benefit both sides in terms of transition especially retaining content writers.
About Group includes several Internet properties including About.com, ConsumerSearch.com and CalorieCount.com. About.com is one of the oldest web properties that have been publishing articles since 1996. The website manages 1,000 microsites and covers 3 million articles which attracted 100 million users who visiting the site every month.
The buyer, InterActive Corporation (IAC), controls over 150 brands and sites in Internet, such as Match.com (dating service) and Ask.com (a search engine). While Ask.com is considered a small site compared to Google and Bing, the site captured about 100 million users worldwide. Ask.com makes money thru selling pay-per-click ads. The dating site Match.com is one of the popular sites for people searching for a mate or a life partner. Users of the service require paying a monthly fee.
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The buyer is InterActive Corporation (IAC). The deal is valued at $300 million in cash.
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