The New York Times Co. is buying sports news site The Athletic for $550 million, the latest move in its strategy to expand its audience of paying subscribers as the newspaper print ads business fades. As of the most recent quarter, the Times had nearly 8.4 million subscribers. San Francisco-based The Athletic covers national and local sports -- more than 200 teams, according to the Times. It was founded in 2016 and has 1.2 million subscribers. After the sale closes, which is expected in the current quarter, The Athletic will be a Times Co. subsidiary and operate separately.

Source: The Times January 06, 2022 23:15 UTC