NY Times buys About.com for $410 million

NEW YORK — The New York Times Co. is buying About.com, an online consumer information company, for $410 million in cash from special-interest magazine publisher Primedia, the companies announced Thursday. It was the latest acquisition of an online company in recent months by a newspaper publisher.

The deal gives the Times a bigger footprint in the online world, where it has moved aggressively in recent years to expand its offerings and revenues from advertising. About.com has a network of Web sites that are maintained by about 500 experts on various topics including sports, personal finance, food and hobbies.

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Story by:  Seth Sutel