Haute 100 NY Update: New York Times Sells About Group To IAC For $300 Million
The formerly hot property is sold at a loss.
Haute 100 listers Arthur Sulzberger Jr. and Barry Diller have completed a deal in which Sulzberger’s New York Times will sell the floundering About Group–including About.com and other properties–to Diller’s IAC for $300 million. The Times purchased About for $410 million in 2005.
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