The New York Times will acquire the sports information site The Athletic, which in six years has become a benchmark in its sector, a new sign of the diversification of the press group.
According to The Information site, the first to report on the operation, the “NOW”Will spend around US $ 550 million on the purchase.
Launched in 2016, The Athletic opted for paid sports reporting with a strong local presence, hiring renowned journalists in major American cities.
Taking advantage of the poor health of an often financially drained local press, the platform became an essential venue for sports reporting in the United States.
At the end of 2021 it had around 1.2 million subscribers, according to various national media.
The site has grown at a rapid pace, launching a version in United Kingdom in 2019 and partnering with the Australian television group Optus Sport in 2021.
He has also created numerous podcasts, including the popular The Lead.
But, according to various American media outlets, The Athletic is struggling to achieve profitability and is currently considering reorienting its strategy.
In recent years, the New York Times has embarked on a specific acquisitions policy to diversify its audience, rejuvenate it and enrich its offering, from recipes to podcasts.
In 2016 he bought the site Wirecutter, which tests and recommends products, before taking control, in June 2020, of the Serial Productions studio, which is behind the first big success in the podcast universe, “Serial”.
According to the Crunchbase database, The Athletic has raised a total of US $ 139.5 million from investors since its inception, and was valued at between US $ 500 million and US $ 1 billion in January 2020.
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Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
