TVNewser FishbowlDC AgencySpy TVSpy LostRemote PRNewser SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

New York Times to Sell About.com

The New York Times Company has found a company willing to take on the albatross that is About.com. All Things D is reporting that Answers.com has signed a letter of intent to buy the site from the Times for about $270 million.

“The deal hasn’t closed yet, and I’m told that Answers’ backers — PE firms Summit Partners and TA Associates — are trying to line up financing,” explains All Things D’s Peter Kafka.

Though the Times bought About.com for about $410 million in 2005, we’re sure its execs are crossing their fingers that this deal goes through, because the site has been dragging the Times down for awhile now. The most recent example was the Times taking a $195 million write down on the venture in the second quarter.

Mediabistro Course

Personal Essay Writing

Personal Essay WritingStarting October 28, work with a published journalist to draft, edit, and sell your first-person essays! Jessica Olien will help you to workshop your writing so that it's ready to pitch to editors. You'll learn how to tell your personal story, self-edit you work to assess voice, style, and tone, and sell your essays for publication. Register now!