New York Times to purchase The Athletic for $550 million

By JOE REEDY
AP Sports Writer

The New York Times Company has agreed to acquire the sports-subscription site The Athletic for $550 million. The deal was announced Thursday after the markets closed. The Times says in a release that the sale is expected to close during the first quarter of this year. The Athletic had 1.2 million subscribers as of December and gets the Times closer to its goal of having at least 10 million digital subscribers by 2025. The company currently has over 8 million paid subscriptions, with that total doubling over the past three years.