Arab Today, arab today new york times in talks to sell aboutcom
Last Updated : GMT 05:49:56
Arab Today, arab today
Arab Today, arab today

New York Times in talks to sell About.com

Arab Today, arab today

Arab Today, arab today New York Times in talks to sell About.com

New York - AFP

The New York Times Company has confirmed it is in talks to sell off its how-to website About.com, but insisted that no definitive deal had been reached. \"The negotiations are ongoing and there can be no assurances that an agreement will be reached or that a transaction will be completed,\" the media group said in a statement Wednesday. \"No definitive agreement has been reached.\" An article on the newspaper\'s Media Decoder blog, citing a person familiar with the deal, said the company had a letter of intent to sell the site to rival Answers.com for $270 million. The group took a major hit in the second quarter, posting a $88.1 million loss in part due to a $194.7 million writedown of About.com. But chairman and interim chief executive Arthur Sulzberger insisted the company would see better results in the second half thanks to a repositioning strategy. The media group, which also publishes The Boston Globe, bought About.com for more than $400 million in 2005. Selling off the website would fit into the strategy followed by the Times in recent months, which included the sale of its remaining stake in Fenway Sports Group, which owns the Boston Red Sox baseball team, and of its regional newspaper group. \"Given the performance of About.com over the last few quarters, this doesn\'t come as a surprise to us,\" said Barclays analyst Kannan Venkateshwar, adding that an eventual sale would allow the Times to have no net debt. Shares in the New York Times Company rose 6.06 percent to close at $8.57 after reports emerged about the potential sale.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today new york times in talks to sell aboutcom Arab Today, arab today new york times in talks to sell aboutcom

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today new york times in talks to sell aboutcom Arab Today, arab today new york times in talks to sell aboutcom

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday