The New York Times Company has reached an agreement to buy The Athletic, the online sports news outlet with 1.2 million subscriptions, in an all-cash deal valued at $550 million, The Times said earlier this week.
The deal brings The Times, which has more than eight million total subscriptions, much closer to its goal of having 10 million subscriptions by 2025, while also offering its audience more in-depth coverage of the more than 200 professional teams in North America, Britain and Europe that are closely followed by The Athletic’s journalists.
Meredith Kopit Levien, the chief executive of the Times Company, called The Athletic “a great complement to The Times.”
“We are now in pursuit of a goal meaningfully larger than 10 million subscriptions and believe The Athletic will enable us to expand our addressable market of potential subscribers,” she said. Ms. Levien told analysts Thursday evening there was “relatively modest” overlap in subscribers of the two companies.
The New York Times has been one of the - if not the most - aggressive legacy print companies when moving into digital, including podcasts
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