New York Time's About.com sold for $300 million but not to Answers.com as we expected, instead it was sold to Barry Diller's IAC.
The news is out and despite IAC coming late to the game on the offer to buy About.com, they got it.
The news has been confirmed by IAC and it includes the purchase of About.com, ConsumerSearch.com and CalorieCount.com.
The $300 million is all cash and should close within "next several weeks."
"About.com has been a strong contributor to our company since its acquisition in 2005," said Arthur Sulzberger, Jr., chairman, The New York Times Company. "About's early expertise in search engine optimization, expert content and revenues from cost-per-click and display advertising made it a valuable component of our portfolio for the past seven years. This sale will allow the Times Company to focus on the development and growth of our core brands locally, nationally and on a global scale."
About.com is a legend of content sites on the internet.
I should note, IAC bought Ask.com and killed it years later.
Forum discussion at WebmasterWorld.