N.Y. Times Seals Deal to Buy The Athletic for $550M
BY ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Digital #Business The Athletic launched five years ago with a focus on subscription local sports journalism. The New York Times is making its biggest acquisition in years. The journalism giant is buying the digital sports outlet The Athletic in a deal valued at $550 million in cash. The company officially announced the deal Thursday afternoon. The Athletic, launched in 2016, has focused on local sports and other sports-related beats with a focus on subscriptions. Along the way, the company poached some of the top sports beat writers in many markets, having them continue to cover…