New York Times Selling to (Report)


The company acquired the struggling Q&A website for $410 million in 2005.

The New York Times is preparing to sell to, All Things D reports.

The company purchased the website in 2005 for $410 million; according to All Things D, citing sources with knowledge of the deal, has signed a letter of intent to acquire the Q&A site for $270 mllion.

The tech news site's Peter Kafka said the private equity firms backing, Summit Partners and TA Associates, are in the midst of securing financing for the acquisition.

Meanwhile, -- which produces content across a variety of categories and questions from "What is a caucus?" to "Do women like beer?" -- has seen declining revenues while the publisher struggles to maintain its prize newspaper amid a changing media landscape. (While the Paper of Record's ad dollars shrink for both print and online, on the bright side, its digital paywall appears to be a success.)

The company took a $195 million goodwill writedown on About Group, with CFO James Follo explaining during last month's second-quarter earnings report that “we have reduced our long-term display growth and profitability assumptions for the group."




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