Confirmed: IAC Has Bought About.com From The New York Times For $300M In Cash

Update: The news has now been confirmed. The $300 million acquisition price includes About.com, ConsumerSearch.com and CalorieCount.com and the deal will close in the next several weeks. Full release below. Both AllThingsD and Reuters have reported a deal in the works, and we have now confirmed with a source very close to the situation that IAC is buying About.com from the New York Times Company for an all-cash sum in the region of $300 million. TechCrunch has also learned that the news is due to be made official either later tonight or tomorrow morning. The source also confirmed that although Answers.com had also been interested in the information portal, its offer -- reportedly valued at $270 million -- was in debt and equity in Answers.com.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/gDLMjSlO4mU/

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