NYT Sells About Group to IAC

Sep 04, 2012

The New York Times will be selling its About Group for $300 million, according to paidContent. Barry Diller's IAC/Interactive swooped in and added $30 million to the $270 million that Answers.com was reportedly willing to pay for the property.

IAC is behind a number of popular websites, from Match.com to Ask.com, which are apparently extremely profitable considering Diller's bid for About was an all-cash offer. The deal is set to officially be announced on Monday.