The New York Times Co. is buying sports news site The Athletic for $550 million US, the latest move in its strategy to expand its audience of paying subscribers as the newspaper print ads business fades. The New York Times reached a $550 million deal to buy The Athletic, an online sports news outlet with 1.2 million subscriptions. 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 07, 2022 22:34 UTC