Looks , which quickly gained prominence for publishing and high-quality sports journalism, is gaining a new owner. According and , The New York Times agreed to buy the subscription-based digital media company for $550 million.
THE times has set a goal of reaching 10 million subscribers by 2025 and is on the right track. It had 8.3 million subscribers as of September 30th. Along with its digital and print publications, the times have separate plans for their cooking products and games (which includes crosswords). It has strengthened its offerings in recent years by acquiring wire cutter and putting the popular product review site behind a paywall.
It is still unclear whether Athletic will be scrolled to default times subscription or whether it will remain a standalone product. The company previously said it did not expect to make a profit until next year. Athletic had 1.2 million subscribers in November, although its growth has been by that point. THE times held talks with the company last summer about a deal, according to reports, but dropped out before returning to the negotiating table last month.
Athletic has a roster of talented and renowned sports journalists, many of whom have been robbed of publications in North America and the UK, offering competitive salaries. In 2017, co-founder Alex Mather (oddly) that your company “will wait for all the local papers and let them bleed continuously until we’re the last ones standing” and “suck them of their best talent at every moment”.
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