IAC Acquires About.com for $300 Million
In early August, The New York Times Co. was on the edge of selling About.com to Answers.com for $270 million. Now, the property is going to Barry Diller’s Internet media conglomerate InterActiveCorp (IAC) for $300 million in cash, the New York Times announced Sunday evening.
Citing unnamed sources, both AllThingsD and the Times reported ahead of the announcement that IAC made a “surprise bid” last week, after news broke that the NYT Co. was planning to sell About.com to Answers.com.
