The New York Times will acquire sports news website The Athletic, the companies announced Thursday, the latest move by the iconic US newspaper in its diversification drive.
“Acquiring The Athletic puts us in a position to be a global leader in sports journalism and offer English speakers around the world another reason to turn to the Times Company to meet their daily news and life needs,” New York Times chief Meredith Kopit Levien said in a statement.
The transaction — first reported by online technology publication The Information — is expected to be finalized in the first quarter.
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Founded in January 2016 by Alex Mather and Adam Hansmann, The Athletic had about 1.2 million subscribers at the end of 2021, according to the statement.
It also has produced numerous podcasts, including “The Lead,” its most popular. But media reports say it has struggled to reach profitability and was considering a change in strategy.
In 2016, it bought product-testing and recommendation site Wirecutter, and in June 2020 acquired Serial Productions, the studio behind the hit podcast of the same name.
The Athletic will become an independent subsidiary of The New York Times, and the founders will stay on as co-presidents, with Mather also serving as general manager and Hansmann as its chief operating officer, the statement said.
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