New York Times completes sales of About Group to InterActiveCorp

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The New York Times Company (NYT) announced the closing of the sale of its About Group, which includes the Web sites of About.com, ConsumerSearch.com and CalorieCount.com, to IAC (IACI) for $300M in cash, plus adjustments for working capital. The Company estimates the net after-tax proceeds from the sale will be approximately $290M and plans to use the sale proceeds for general corporate purposes.

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