Barry Diller’s IAC Offers $300 Million for About.com

By: Peter Lauria and Jennifer Saba | Reuters

(Reuters) – Barry Diller’s IAC/Interactivecorp submitted an offer in excess of $300 million to buy the About.com information website from the New York Times Co, according to people with knowledge of the situation.

IAC’s bid is above the $270 million offer that the Times Co has preliminarily accepted from Answers.com, a website backed by private equity firms Summit Partners and TA Associates, said one of the sources.

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