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IAC Interactive snapped up (and not as we speculated two weeks ago.)

IAC plans to integrate into its own search engine and question-and-answer service, (see screenshot). has a Spanish language version for the Spain market.

The New York Times Co. announced on Sunday that it has sold to IAC/InterActive Corp. for $300 million in cash. IAC won a month-long bidding war for the question and answer website. Four weeks ago, had signed a letter of intent to take off the Times' hands for $270 million. The president of, Peter Horan, had previously been the CEO of But IAC swooped in with a higher bid last week..

"The complementary nature of these two businesses will provide significant synergies going forward, and thus we expect that will generate more profit as a part of and IAC than it has been able to over the last few years," IAC CEO Greg Blatt said in a prepared statement.

According to CNN Money, The Times Co. first purchased the About Group in 2005 for $410 million. Profits for the company slipped after Google (GOOG, Fortune 500) changed its search algorithm in 2011. The tweak hurt the division's traffic and ad revenues.

IAC, however, expects a reversal for the website under its new ownership. The company also owns and Urbanspoon, among many others.  The Times Co. has undergone another change recently, as it took on the BBC's Mark Thompson as its new CEO.


Portada Staff

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