The New York Times agrees to buy Athletic sports news website

The New York Times agrees to buy Athletic sports news website

Since it was founded six years ago, the Athletic established itself by poaching big-name sports writers from news outlets across the United States, and then followed a similar strategy in the United Kingdom.

In June 2020, the Athletic cut 46 employees, or 8 per cent of its staff. The company was reported to have held talks with the online news site Axios, but negotiations broke down over a range of issues, including price and who would lead the combined company, according to people familiar with the matter.

The deal with the Times was reported earlier on Thursday by the Information, a technology publication. – Bloomberg

Story Highlights

  • The deal is valued at about $550 million (€487 million), said the person, who asked not to be identified because it has not been announced. Neither the Times nor the Athletic responded to a request for comment.

  • The company raised about $50 million two years ago at a valuation of about $500 million. In November it had about 1.2 million subscribers who pay for access to articles about major professional sports teams in the US, as well as European football clubs.

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