American media acquired “The Athletic” after several months of negotiations
The New York Times has reached an agreement to acquire the American sports information site The Athletic for $550 million, according to the specialized outlet The Information announced Thursday.
The two companies carried Several months of negotiation The potential purchase, which The Athletic has also discussed with other companies such as Axios over the past year.
Athletic, a digital media specializing in sports and It can only be accessed by subscriptionhas 1.2 million paying subscribers and could help The New York Times achieve its goal of reaching 10 million subscribers by 2025 (it currently has just over 8 million).
Launched in 2016, this medium offers coverage of many sports both nationally and locally in the US and also has a UK version.
Based in San Francisco (USA), the project was launched in 2016 and has been Important contributions from investorswhich allowed him to recruit several journalists in a row and rapidly expand his audience.
Despite this, The Athletic has never been profitable and does not expect to turn a profit until 2023. In 2020, the media has suspended its employees due to the covid-19 pandemic, which temporarily paralyzed many sports competitions.