New York Times Buys Athletic

[Goodyear Card]

New York Times Co. buys The Athletic for $550M

In one of its largest-ever acquisitions, The New York Times Company, looking to expand its audience of paying subscribers to 10 million by 2025, is purchasing The Athletic for $550 million.

www.espn.com

 

[cardpa]

New York Times Co. buys The Athletic for $550M

In one of its largest-ever acquisitions, The New York Times Company, looking to expand its audience of paying subscribers to 10 million by 2025, is purchasing The Athletic for $550 million.

www.espn.com

Kind of unrelated however I had an electronic subscription to the Times for one year trial at $4.99/month and it was about to expire. They sent me an email teling me the subscription was going to increase to $17 a month. I went in to cancel my subscription and they offered me to buy another year at $4.99 a month so I re upped. I guess what I am saying is, if you have a subscription to the Athletic at a introductory price you now may be able to keep that price when it runs out.

 

[splitsecond]

I am not sure who at the NYT decided the way to save the publication is to spend $550m on a company that has no prospect of becoming profitable any time soon... but it's par for the course in major media.

 

[dreamcastrocks]

I am not sure who at the NYT decided the way to save the publication is to spend $550m on a company that has no prospect of becoming profitable any time soon... but it's par for the course in major media.

The Athletic is one of the most respected and trusted journalism sources in the country. Maybe they aren't purchasing them just to be 'profitable.' Maybe they also want the talent.