Friday, February 18, 2005

New York Times to Buy About.com for $410 million

From searchenginelowdown:

The news is out that the NYT will spend $410m buying About.com from Primedia.The New York Times Co., whose newspapers include the New York Times and the Boston Globe, said it will expand About.com's content and visibility and use the site to market its products. The Times Co. said it paid a multiple of 23 times About.com's estimated 2005 earnings before interest, taxes, depreciation and amortization.