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New York Times to Acquire The Athletic for $500M -Breaking

by Mike Robinson

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© Reuters.

By Yasin Ebrahim

Investing.com –  The New York Times It announced on Thursday it had reached an agreement with The Athletic to purchase the digital sports media company, The Athletic for $550 Million. This transaction should close by the end of the first quarter 2022.

New York Times Company (NYSE 🙂 closed at 4.7% and was 0.2% higher in the aftermarket hours.

The deal is expected to support The New York Times times objective of reaching its 10 million subscribers by 2025. The Times had 8.3 million subscribers in its third quarter ended September 30, according to filings.

Meredith (NYSE 🙂 Kopit Levien is the president and chief executive of The New York Times Company.

It is anticipated that the transaction will close during the first quarter 2022.

 

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