Trying to Purchase

Photo courtesy of wikicommons

The St. Louis-based is in negotiations with the New York Times Company to purchase, according to Bloomberg. is reportedly offering $270 million for the information website. The New York Times Company purchased the site in 2005 for $410 million, but’s revenue has been falling, costing the company money. According to Bloomberg, the company’s revenue fell 8.7 percent last quarter and posted an operating loss of $186.8 million.

New York Times Company stock (NYT) rose 6 percent after news of a possible sale to $8.57 from a previous close of $8.08.

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