The New York Times buys the sports medium The Athletic for 550 million dollars

The New York Times has reached an agreement to acquire the American sports information website The Athletic for about 550 million dollars (about 486 million eur

The New York Times buys the sports medium The Athletic for 550 million dollars

The New York Times has reached an agreement to acquire the American sports information website The Athletic for about 550 million dollars (about 486 million euros), as follows the specialized medium The Information.

The two companies had been negotiated for several months, the Athletic had also discussed with other companies as Axios over the past year.

The Athletic, a specialized digital medium and only accessible under subscription, has 1.2 million paid subscribers and can help The New York Times meet their goal of reaching ten million subscribers for 2025 (currently has Something more than eight million).

The medium offers coverage of numerous sports both nationally and local in the United States and also has an edition for the United Kingdom. Based in San Francisco (USA), the project was launched in 2016 and has had important contributions from investors, which has allowed him to recruit numerous journalists very followed and quickly expand his audience.

Despite this, The Athletic has never been profitable and does not expect to have benefits until 2023. In 2020, the medium cut its workforce as a consequence of the COVID-19 pandemic, which temporarily paralyzed many sports competitions.

Updated Date: 06 January 2022, 15:06

You need to login to comment.

Please register or login.

RELATED NEWS