YOUR FRIENDS' ACTIVITY

    New York Times closes on $300M sale of About Group

    NEW YORK (AP) — The New York Times has completed its $300 million sale of The About Group to Barry Diller's IAC/InterActiveCorp.

    IAC, which operates online businesses including Newsweek, The Daily Beast and dating site Match.com, announced the deal last month.

    About.com provides information on a wide variety of topics and also operates ConsumerSearch.com and Calorie-Count.com. The site's content is written by paid experts known as guides.

    The New York Times said Monday that it anticipates receiving about $290 million from the sale and plans to use those funds for general corporate purposes.

    IAC says The About Group will become part of its search and applications segment.

    The New York Times Co. purchased About.com in 2005 for roughly $410 million. About.com has suffered in the past year because of a change in the way Google handles search results. The change made About.com content difficult to find.

    The New York Times Co.'s stock added 6 cents to $9.64 in midday trading, while IAC/InterActiveCorp's stock fell 71 cents to $52.51.

    Loading...
    • The Gruesome Details of London's Horrifying Machete Attack

      An attack in broad daylight in London on Wednesday is drawing a swift response — and a possible terror link — from the highest authorities. Reports suggest two men chased down another man with their car before getting out, attacking him with a machete, and dragging him through the city streets. 

    • ‘Teen Mom’ Farrah Abraham teaches teenage girls a very bad lesson

      “Teen Mom” and “Backdoor Teen Mom” star Farrah Abraham has successfully taught teenage girls everywhere a very bad lesson: If you get pregnant as an unwed teenager, star in a reality show, then a porno, you, too can be super famous!

    • The World's Most Powerful Women 2013

      Our annual snapshot of the top 100 women in business, politics, celebrity, philanthropy, billionaires, media and technology.

    • Florida high school suspends teacher for touching girl on head with banana

      Is a cigar sometimes just a cigar? That debate will remain unresolved, but The Daily Caller can say with confidence that a banana is definitely not always just a banana at North Marion High School near Ocala, Fla.

    • Is Greek yogurt hurting the environment?

      Good for your body; terrible for the planet

    • 18-year-old’s invention can recharge a cell phone in 30 seconds

      A teenager from Saratoga, California took home one of the top prizes at the Intel International Science and Engineering Fair late last week after showing off her invention, which can fully charge a cell phone in 30 seconds or less. Eesha Khare was given the Intel Foundation Young Scientist Award and a $50,000 prize for being runner-up in the competition, which was won by a 19-year-old who unveiled a new spin on self-driving car technology. Khare’s battery technology requires a new component to be installed inside the phone battery itself, and Intel notes that it also has potential applications for car batteries.

    • Why We Can't Forget That Oklahoma's Senators Voted Against Sandy Relief

      Nearly four months ago, Oklahoma Senators Tom Coburn and James Inhofe both voted against H.R.152, the Disaster Relief Appropriations Act that eventually sent $50.5 billion in relief to victims of Hurricane Sandy. And in the flurry of last night's devastation in Moore, Oklahoma. it was impossible not to forget that fact, knowing the federal government would soon rally to the cause.

    • John McCain Is the Latest Senior Senator to Have Had Enough of Junior Ted Cruz

      For two days John McCain and Ted Cruz have been fighting on the Senate floor over the rules for negotiating a budget, but, like so many fights, it's also about so much more. Cruz is being annoying about the budget, but worse, he just doesn't get the Senate. 

    Loading...

    Follow Yahoo! News