The New York Times has reached an agreement to acquire the American sports information website The Athletic for
about 550 million dollars (about 486 million euros), according to the specialized media The Information.
The two companies had been negotiating the possible purchase for several months, which The Athletic had also discussed with other companies such as Axios over the past year.
The Athletic, a digital media specialized in sports and only accessible by subscription, has 1.2 million paying subscribers and can help The New York Times meet its goal of reaching ten million subscribers by 2025 (it currently has just over eight million).
The medium offers coverage of numerous sports both nationally and locally in the United States and also has an edition for the United Kingdom.
Based in San Francisco (USA), the project was launched in 2016 and has attracted significant input from investors, allowing it to recruit numerous journalists with a strong following and to rapidly expand its audience.
Despite this,
The Athletic has never been profitable and does not expect to make a profit until 2023
.
In 2020, the media cut its staff as a result of the covid-19 pandemic, which temporarily paralyzed many sports competitions.
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