The New York Times buys sports information site The Athletic

New York times You will get a sports information site the athleteThe companies announced Thursday, in the latest move by the US newspaper to seek diversification.

“having the athlete It puts us in a position to be a world leader in sports journalism and to give English speakers around the world another reason to turn to The Times for their daily news and needs,” said Director New York timesMeredith Cobbett Levian, in a statement.

The newspaper company will pay $550 million the athlete, which has become a leader in sports coverage over the past six years, taking advantage of the challenging environment for local media.

The deal, which was first reported by the online technology publication, is expected to take place the information, in the first trimester of pregnancy.

Levin estimated that the extension would help the news outlet reach its goal of more than 10 million subscribers, up from eight million today.

Founded by Alex Mather and Adam Hansmann in January 2016, the athlete The number of subscribers reached about 1.2 million by the end of 2021, according to the statement.

It has grown at a rapid pace, having launched a British version in 2019 and partnering with Australian television group Optus Sport last year.

He also created several podcasts, including the popular Leadership.

However, according to several US media outlets, The Athletic struggled to achieve profitability and is currently considering reorienting its strategy.

In the last years, New York times It embarked on a specific acquisition policy to diversify its audience, rejuvenate and enrich its offerings, from recipes to podcasts.

In 2016, it bought Wirecutter, which tests and recommends products, before, in June 2020, it took over Serial Productions, the studio behind the podcast world’s first huge success, “Serial”.

According to Crunchbase, the athlete It has raised a total of $139.5 million from investors since its inception, and was valued at between $500 million and $1 billion in January 2020.

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