Strategic investment? The New York Times bought the sports outlet The Athletic for more than $ 500 million

The New York Times made a significant investment in sports by buying The Athletic.

Archivo / Getty Images

This Thursday there was one of the most striking businesses in recent years in terms of journalism, and that is The New York Times completed the purchase of the sports outlet The Athletic, for a value of $ 550 million dollars, according to The Information medium.

This movement put an end to a negotiation of more than two months between both communication companies that left both parties in good standing since now the iconic New York Times adds a fundamental ally in its projected goals for 2025 which consists of reaching 10 million subscriptions.

For its part, the previous owners of The Athletic receive a significant amount of money by means that so far is not profitable and that will not offer benefits at least until next year.

The Athletic is a sports digital medium based in San Francisco, USA, created in 2016, which offers coverage of different disciplines at a national level and has an edition in the United Kingdom. the same it only allows full access to its subscribers, among whom it already has 1.2 million.

For its part, the New York newspaper that has just over 8 million subscribers, you will have the opportunity to reach your projected goal in less time if you apply the necessary strategy to add more followers.

The Californian media has received significant capital injections, which allowed it to hire several of the most recognized sports journalists in the United States, which have helped it to position itself as a reference medium in various countries of the world.

However, it is not projected to generate economic benefits until 2023, something that was noted with the arrival of the pandemic when he had to reduce the staff before the cancellation of the multiple sporting events.

Read also:

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *