New York Times agreed to buy sports media Athletic for $ 550 million

by time news

The New York Times has reached an agreement to buy online sports media Athletic for $ 550 million, according to the newspaper’s website. Athletic’s subscriber base reaches 1.2 million.

The announcement says the deal will move the New York Times, which already has 8 million subscribers, closer to its 10 million target by 2025. The newspaper’s audience will receive detailed coverage of more than 200 professional sports teams in North America, the United Kingdom and Europe. provided by Athletic journalists.

Upon completion of the deal, Athletic will operate separately from The New York Times and the newspaper’s sports section. The publisher will be Times executive David Perpich. Athletic founders Alex Mather and Adam Hansmann will remain with the company. Mather, who now serves as the site’s chief executive, will become CEO and co-chairman, while Hansmann, who is now Athletic’s president, will become its chief executive and co-chairman.

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