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The New York Times Company has announced plans to sell the About Group, including website About.com, to IAC/Interactive for 300 million dollars. The plans to sell the About Group mark a major step in the Times Company’s efforts to focus on its core newspaper properties. After the Boston Red Sox and About.com are sold off, the company can then invest exclusively in the Times, the International Herald Tribune, The Boston Globe, and The Telegram & Gazette of Worcester , Massachusetts . According to Politico, the news was announced via a report by the Times’ editors, who cited a source with knowledge of the negotiations. Barry Diller’s IAC/Interactive has now added other websites to the group, including Match.com, Ask.com, and Newsweek/The Daily Beast, the report said. IAC/Interactive made a surprise bid of 300 million dollars last week after it had been widely assumed that The Times would sell to Answers.com for a reported 270 million dollars, the report added.

New York Times to sell About Group for $300 mln