by Tony Silber , 11 hours agoThe New York Times Co. has agreed to buy the subscription-based sports site The Athletic in a deal valued at around $550 million, according to multiple reports Thursday morning. advertisement advertisement The Athletic is “a great complement to The Times,” CEO Meredith Kopit Levien, said in a report by the newspaper. The deal represents the culmination of a year-long effort by the Times to acquire The Athletic and its 1.2 million subscribers. Then The Athletic hired the investment bank LionTree in September to help execute a deal — and talks with the Times became exclusive in December. Even with more than one million paying subscribers, The Athletic wasn’t expected to be profitable until 2023.

Source: The Times January 06, 2022 17:12 UTC