Diller’s IAC to Buy NYT’s About Group for $300 Million

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By: Lara Hazard Owen | paidContent

Barry Diller has won his bid to buy the About Group, a division of The New York Times Company, for $300 million.

Reuters reported last Tuesday that Diller’s IAC/Interactive was making a late-stage bid for About.com, which was in the early stages of selling itself to Answers.com for $270 million. The New York Times reported on its Media Decoder blog on Sunday afternoon that the $300 million cash deal will be officially announced Monday.

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