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NYT to Buy About.com

About.com, rumored to be for sale for the past few weeks, has indeed been sold to The New York Times Company for roughly $410 million, according to MediaWeek. The New York Times itself first reported on February 8 that the major media site - attracting about 22 million souls each month - was on the block in a special auction run by Goldman Sachs. That story reported from an anonymous source that the other companies bidding included AOL, Google, Yahoo and AskJeeves. The price to be paid for About.com is about 10 times revenues and 30 times gross earnings.

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