New York Times to acquire sports site The Athletic for $550 mn

Founded in 2016, The Athletic had 1.2 million subscribers as of December, and covers more than 200 clubs and teams in the U.S. and around the world

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"Acquiring The Athletic puts us in a position to be a global leader in sports journalism," said New York Times Chief Executive Officer Meredith Kopit Levien

Reuters

3 min read Last Updated : Jan 07 2022 | 8:32 AM IST

The New York Times Co said on Thursday it has agreed to buy subscription-based sports site The Athletic for $550 million in cash, as the 170-year-old newspaper adds more digital content to grab subscribers.

Founded in 2016, The Athletic had 1.2 million subscribers as of December, and covers more than 200 clubs and teams in the U.S. and around the world. It was last valued at $500 million in a private raise in 2020.

"Acquiring The Athletic puts us in a position to be a global leader in sports journalism," said New York Times Chief Executive Officer Meredith Kopit Levien.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : New York Times Sports Journalists online media

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