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The New York Times Set to Sell for $270 Million

by Todd Haselton | August 8, 2012August 8, 2012 8:30 am PDT

nty building

The New York Times is reportedly set to sell to for $270 million. is famous for its large selection of editorial content that ranges from tips and stories about beadwork to common mistakes made by first-time freshwater aquarium owners. AllThingsD said the deal is currently backed by Summit Partners and TA Associates and that it hasn’t closed yet.

The New York Times is definitely going to take a hit on the deal. It originally acquired in 2005 for $410 million. The CEO left last year. The New York Times chief financial officer James Follo told the company’s investors earlier this year that was gaining momentum and that the company hoped to increase its presence during the second half of this year.

Momentum towards a sale, I guess.

[via AllThingsD]

Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...