New York Times buys sports information site The Athletic

The New York Times will acquire the sports information website The Athletic, which in six years has become a reference in the sector, several media reported this Thursday (6). The purchase is another step by the group towards diversification.

According to the website The Information, the first to report the operation, the “NYT” will spend about US$ 550 million (R$ 3.1 billion) in the purchase.

Contacted by AFP, the New York Times and The Athletic did not respond to a request for information.

Launched in 2016, The Athletic opted for paid sports reporting with a strong local presence, hiring renowned journalists in major American cities.

Taking advantage of the failing health of a local press, often financially exhausted, the platform has become a benchmark for sports information in the United States.

At the end of 2021, it had around 1.2 million subscribers, according to various national media.

The site has grown rapidly, launching a UK version in 2019 and partnering with Australian television group Optus Sport in 2021. He has also created a number of podcasts, including the popular The Lead.

But according to several US media outlets, The Athletic is struggling to make a profit and is currently considering reorienting its strategy.

In recent years, the New York Times has embarked on a policy of targeted acquisitions to diversify its audience, rejuvenate it and enrich its offering, from cooking recipes to podcasts.

In 2016, he bought the website Wirecutter, which tests and recommends products, before taking control, in June 2020, of the Serial Productions studio, which is behind the first great success in the podcast universe, “Serial”.

According to the Crunchbase database, The Athletic has raised a total of $139.5 million from investors since its inception, and has been valued between $500 million and $1 billion in January 2020.