Posted on 01/06/2022 3:30:16 PM PST by God luvs America
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.
The Times, unlike many local news outlets, has thrived in the past several years. It gained millions of subscribers during the Trump presidency and the pandemic, keeping it on track for its previously stated goal of 10 million by 2025.
As of the most recent quarter, the Times had nearly 8.4 million. It has been diversifying its coverage with lifestyle advice, games and recipes, helping it counter a pullback from the politics-driven news traffic boom of 2020.
"We are now in pursuit of a goal meaningfully larger than 10 million subscriptions and believe The Athletic will enable us to expand our addressable market of potential subscribers,'' New York Times Co. CEO Meredith Kopit Levien said in a news release Thursday.
It's one of the Times' largest-ever acquisitions. The company spent $1.1 billion on the Boston Globe in 1993 and $410 million for About.com in 2005, both of which it later sold for less.
(Excerpt) Read more at espn.com ...
I stopped buying The Times ages ago. Any paper I purchased I always read the sports section first. And The Times sports section long ago became an extension of its political reporting and the op ed page. This means the death of The Athletic.
I still occasionally purchase the NY Post. Great sports section.
Who the hell would subscribe to either? Spending $550M to buy a magazine that says the same thing you do is a bad investment.
I thought the NYT was going broke?
If you subscribe to The Athletic, please cancel your subscription
+1. I have read one of the Athletic’s columnists at another site. Big never Trumper. Always went out of their way to bash Trump in a sports column.
The Athletic is actually a decent site. I am so sorry to hear this.
Won’t even be able to trust the sports scores anymore.....
They are. Dirty secret is that much of their subscriber growth is for things completely unrelated to their fake news, like real estate listings and restaurant reviews. As their leftist white Baby Boomer audience heads into the afterlife, see ya later NYT.
Bringing more anti Trump BS to sports!! No thanks... Can find other sports sites online for free...
So the New York Times is the Athletic Supporter
Operation Mockingbird still pays dividends…
I did even before I read your comment.
I thought the New York Times was on the verge of bankruptcy
The Times has not done that well and they are spending money they really don’t have. Their failure is coming.
I have never even heard of this publication.
The Times has 550 million!!?? No way.
Only if they borrowed it from Carlos Slim
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