New York Times agrees $550m deal to buy the Athletic

The New York Times has agreed to buy sports news website the Athletic for around $550m, according to the Information.

It was first reported last month that the NYT had entered exclusive talks with the subscription-funded Athletic (see below on this page).

The Information previously reported that the Athletic was seeking to sell itself for more than $750m.

The New York Times and the Athletic are two of the top five subscription news businesses in the world, according to Press Gazette’s latest 100k Club ranking. The Times last reported having 7.6m digital-only subscribers, while the Athletic is reported to have around 1.2m.

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Source: The Information

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Deal value: $550m

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