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IAC Has Bought From The New York Times For $300M In Cash

The news has now been confirmed. The $300 million acquisition price includes, and and the deal will close in the next several weeks. Full release below.

Both AllThingsD and Reuters have reported a deal in the works, and we have now confirmed with a source very close to the situation that IAC is buying from the New York Times Company for an all-cash sum in the region of $300 million. TechCrunch has also learned that the news is due to be made official either later tonight or tomorrow morning.

The source also confirmed that although had also been interested in the information portal, its offer — reportedly valued at $270 million — was in debt and equity in

Whether it goes for $270 million or $300 million, it’s a discount on the $410 million the NYT paid for the site in 2005.


But if’s declining traffic seemed to make the site less and less a good fit for the NYT, you can see how it would make more sense to have a home at IAC, which already owns a number of properties that also function on a similar business model. IAC can potentially pool its resources together to bring down some costs on the site, and would become another outlet for the advertising network that runs across the rest of the IAC portfolio.
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