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Report: NY Times Co. set to sell About.com

Published on .

New York—The New York Times Co. has a deal in place to sell About.com to Answers.com for $270 million, according to a report on AllThingsD.com. According to the report, the deal has not yet closed and Answers.com's backers—private equity companies Summit Partners and TA Associates—are trying to line up financing. The Times Co. acquired About.com for $410 million in 2005. Last month, the company took a $195 million goodwill write-down on the unit, according to AllThingsD.
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