The New York Times Co., doubling down on digital subscriptions and looking to reach younger audiences, announced that it has entered into an agreement to acquire The Athletic for $550 million in ca…
the spring of 2021
. The deal is expected to close in the first quarter of 2022. The Athletic provides national and local coverage of more than 200 teams in the U.S. and worldwide across a range of sports and had 1.2 million subscribers as of December 2021. The Times expects The Athletic to be immediately accretive to revenue growth rate and dilutive to operating profit for approximately three years.
The Athletic was founded in January 2016 by Alex Mather and Adam Hansmann and had raised $140 million date,The Times has been rapidly growing its core consumer subscription business, doubling to over 8 million paid subscriptions across digital and print products in the last three years. Meredith Kopit Levien, president and CEO of the New York Times Co., said the deal for The Athletic will complement its existing sports coverage. “As a standalone product, The Athletic will enable us to offer much more — extensive coverage for fans who seek a deep connection to and understanding of their favorite teams, leagues and players,” she said.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
This New Hypersonic ‘Space Plane’ Can Get You From New York to London in One HourIt can soar at 4,000 mph—or five times the speed of sound.
Lire la suite »
Ben Smith leaving New York Times, says he wants to reach 200 million 'college educated' audienceThe media columnist is set to launch a 'global news start-up' with Bloomberg Media CEO Justin Smith.
Lire la suite »
New York Times interfered with union activism, U.S. labor agency allegesU.S. labor officials have filed a complaint accusing The New York Times Co of unlawfully interfering with the organizing efforts of tech employees by barring a group of workers from showing union support.
Lire la suite »
The New York Times is reportedly buying subscription-based sports site The Athletic | EngadgetThe New York Times is reportedly buying subscription-based sports site The Athletic
Lire la suite »
New York State to Launch Online Sports Betting on SaturdayOnline sports betting is launching in New York this weekend
Lire la suite »