New York Times to Buy The Athletic for $550 Million in Cash

The New York Times:

The New York Times Company has reached an agreement to buy The Athletic, the online sports news outlet with 1.2 million subscriptions, in an all-cash deal valued at $550 million, The Times said on Thursday.

The deal brings the Times, which has more than eight million total subscriptions, quickly closer to its goal of having 10 million subscriptions by 2025, while also offering its audience more in-depth coverage of the more than 200 professional teams in North America, Britain and Europe that are closely followed by The Athletic’s journalists.

The Athletic is terrific. Good writers, good design, and a model that supports both national and local coverage. For baseball, they have national writers like Jayson Stark and Ken Rosenthal, but also beat writers for every team. Lindsey Adler, The Athletic’s Yankees beat writer, is terrific. The Athletic’s success is built upon one simple notion: good writers doing good work. No clickbait, no bullshit, and no ads. Let’s hope it stays that way.

Friday, 7 January 2022