Answers.com Trying to Purchase About.com

Photo courtesy of wikicommons

The St. Louis-based Answers.com is in negotiations with the New York Times Company to purchase About.com, according to Bloomberg.

Answers.com is reportedly offering $270 million for the information website. The New York Times Company purchased the site in 2005 for $410 million, but About.com’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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