The New York Times Co. is buying sports news site The Athletic for $550 million, the latest move in its strategy to expand its audience of paying subscribers as the newspaper print ads business fades.
The Times, unlike many local news outlets, has thrived in the past several years. It gained millions of subscribers during the Trump presidency and the pandemic, keeping it on track for its previously stated goal of 10 million by 2025.
As of the most recent quarter, the Times had nearly 8.4 million. It has been diversifying its coverage with lifestyle advice, games and recipes, helping it counter a pullback from the politics-driven news traffic boom of 2020.