About.com bought by The New York Times for $410 million

Posted on Friday, February 18 2005 @ 19:30 CET by Thomas De Maesschalck

About.com will be bought by The New York Times for $410 million from publisher Primedia, in order to open new online advertising possibilities.

The company said it will expand the site's content and use it to market its products. About.com currently provides information over a broad range of topics; arts, electronics, finance, food, travel and many more.

Primedia bought About.com for $690 million in stock in late 2000, as it worked to meld its traditional publishing business with online media. But the publisher struggled to steer About.com through the Internet downturn and noted Thursday that the portal is "completely distinct" from its other Web sites.

More info at Cnet

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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